Define insured location - Study guides, Class notes & Summaries

CAIB 2 Chapter 1 Practice Exam 1 Latest Update Graded A+ Explain what it means to issue insurance on a scheduled basis Only the property listed or scheduled on the policy is insured Explain what is meant to issue insurance on the basis of Property of Every Description Building, stock and equipment are insured under a single limit of insurance Explain what it means to issue insurance on an all property (blanket) basis All property owned by the insured is insured under a single limi...

CAIB 2 Question and answers 100% correct 2024 Define "Endorsement" - correct answer endorsements change the terms of existing policies Define "Rider" - correct answer Riders add coverages to those already on the policy What values are insured on a Glass Rider - correct answer 1) Glass 2) Artwork on glass 3) Tape & Foil on glass When would tenants require Glass Riders? - correct answer tenants may require glass riders when they have assumed responsibility for damage to glas...

Property and Casualty License in Arkansas Health Insurance Company :Complete Exam 2024 What is Insurance? - CORRECT ANSWER-Transfers the risk of loss from individual to insurance co. What is Risk? - CORRECT ANSWER-Chance of loss occuring What are 3 types of Hazzards? - CORRECT ANSWER-Physical, Moral, Morale What is a Peril? - CORRECT ANSWER-Causes of loss insured against What does Indemnify mean? - CORRECT ANSWER-Right for Reimbursement but only to the extent of the loss. Cannot gain...

CAIB 2 Chapter 4 Practice Test 1 Define Endorsement. - Answer ️️ -Endorsements change terms of existing policies Define Rider. - Answer ️️ -Riders add coverages to those all ready on policy Indicate Covered or Not Covered on Sign Form (C/NC) a) mechanical breakdown b) damage caused by power surge c) damage caused when dropped during installation d) damage caused by freezing e) damage caused by striking employees - Answer ️️ -a) NC mechanical breakdown b) NC damage caused by ...

What is Risk? - ANSWER-Chance of loss occuring What are 3 types of Hazzards? - ANSWER-Physical, Moral, Morale What is a Peril? - ANSWER-Causes of loss insured against What does Indemnify mean? - ANSWER-Right for Reimbursement but only to the extent of the loss. Cannot gain from loss. Define Subrogation - ANSWER-Right to seek damages from 3rd party so that the insured cannot collect 2xs. What is an accident? - ANSWER-Sudden unplanned event resulting in a loss What is an occurren...

Florida 6-20 All Lines Adjuster Test 2024 Update| Complete Questions & Answers | Rated A+. A public adjuster represents the interest of: A. The insurer B. The Insured C. The employer D. The interest of the general public -- CORRECT ANSWER->> -B. The insured Which of the following is the type of report that indicates the initial results of a claim investigation? A. Field Report B. Interim Report C. Full Report D. None of the above -- CORRECT ANSWER->> -A. Field Report S...

CAIB 2 Chapter 1 Practice exam 1 Questions and Answers 100% Pass Explain what it means to issue insurance on a scheduled basis - Answer- Only the property listed or scheduled on the policy is insured Explain what is meant to issue insurance on the basis of Property of Every Description - Answer- Building, stock and equipment are insured under a single limit of insurance Explain what it means to issue insurance on an all property (blanket) basis - Answer- All property owned by the insured ...

Fundamentals of Insurance BC Questions and Answers 100% Solved What is the major function of insurance? to allow the spread of risk What are the five important functions of insurance? 1) insurance is the shifting of financial responsibility for a loss 2) payment will be made only in the event of an insured risk 3) the amount of payment is restricted to the amount required to indemnify the insured 4) insurance covers losses the object may be exposed to 5) the indemnity can be in the form of mone...

Define "Endorsement" correct answersendorsements change the terms of existing policies Define "Rider" correct answersRiders add coverages to those already on the policy What values are insured on a Glass Rider correct answers1) Glass 2) Artwork on glass 3) Tape & Foil on glass When would tenants require Glass Riders? correct answerstenants may require glass riders when they have assumed responsibility for damage to glass in a lease What type of information is required by underwri...

ten days - How many days does the insurer have to send out forms when notified of accident? 12:01 am - At what time is the policy effective? 25/50/25 - What are the financial responsibility limits in Rhode Island? subrogation - By virtue of payment, the insurance company assumes the rights of the insured to pursue the responsible party for damages only to the extent of the insurance company's payment, and as a service, the insurance company will attempt to recover the insured's deduct...