The subrogation clause - Study guides, Class notes & Summaries

Property and Casualty Insurance EXAM Latest Version 100% Pass Specific insurance This type of insurance designates a particular item to be insured Blanket insurance This type of insurance covers more than one item of property at a single location or one more items of property at multiple locations. Speculative possibility of both gain and loss. Not insurable. Pure only the possibility of loss. Insurable. What are the 5 methods of managing or handling risk? avoid, control, reta...

Florida General Lines Agent Exam questions With Verified Answers What is the definition of a risk that is insurable? a.Risk is defined as a chance or the possibility of financial loss; only pure risks are insurable as there is no possibility of a gain b.A chance of a loss or gain c.A risk where there is a possibility of a gain d.A chance for insurance coverage - answera What is an insurance policy? a.A binder that offers initial insurance coverage b.An oral agreement related to insuran...

MI Insurance Exam Questions and Answers Rated A an insurance applicant with a below average likelihood of loss is typically considered to be Preferred Risk Tim is covered under a group plan and would like to change is group coverage to an individual policy with the name insurer because of employment termination. Which of these describes the change that will take place? Conversion Matt is applying for life insurance and requests a double indemnity rider. A double indemnity benefit...

california property and casualty exam questions and answers 100% pass The process where by a mutul insurer becomes a stock company is called - Correct Answer ️️ -Demutalization The process whereby a stock company a mutal insurer is called - Correct Answer ️️ - Mutalization The provision in a property policy which states that the insured has been paid up to their insurable interest is - Correct Answer ️️ -Valuation clause The part of the policy that states the amout of coverag...

Which of the following would NOT be found in the conditions section of a homeowners insurance policy? Subrogation rights Duties of the insured Insurance premium Mortgagee clause - ️️The insurance premium is not shown in the conditions section of the homeowner policy. Which of the following is true regarding dealers physical damage coverage under a garage policy? It is a blanket limit for covered autos. It extends coverage to customers' autos. It is an annual maximum limit f...

DELAWARE LIFE PRODUCER EXAM A(n) _ may also perform the duties of a consultant. - Answer- producer What is an example of a producer's implied authority? - Answer- Collecting premiums The Commissioner may suspend or revoke a producer's license for - Answer- keeping premiums owed to the insurer An insurer is charged _ for submitting an application for a certificate of authority in Delaware. - Answer- $700 In Delaware, an insurer is prohibited from - Answer- making a political contri...

USAA P&C Insurance Adjuster Exam Already Passed Perils Causes of loss identified in the policy (Fire, lightening, internal explosion ,Wind, Hail, Collision) Hazard Condition that create or increases the chance or loss or contributes to the loss Physical Hazard Visible ( operational features of a risk) Moral Hazard Intentional dishonesty or illegal actions of a person (arson) Morale Hazard Carelessness or indifference ( attitude). Takes additional risks (negligence) Pure Ris...

Property and Casualty Review 2024 Questions and Answers A unique exclusion that is found only in the Fine Art Floater is: - Correct Answer ️️ -Art on Exhibition (Due to most frequent thefts during gallery showings) Which section of a Special form policy determines whether a peril is covered? - Correct Answer ️️ -Exclusions New zoning laws prevent an Insured from replacing a destroyed property. If the Insured transfers ownership of the property to the Insurer, this is an example of...

Which of the following would NOT be found in the conditions section of a homeowners insurance policy? Subrogation rights Duties of the insured Insurance premium Mortgagee clause - The insurance premium is not shown in the conditions section of the homeowner policy. Which of the following is true regarding dealers physical damage coverage under a garage policy? It is a blanket limit for covered autos. It extends coverage to customers' autos. It is an annual maximum limit for comprehensi...

NEW YORK INDEPENDENT GENERAL ADJUSTER EXAM SIMULATOR - SERIES 17-70 ALREADY PASSED Which of the following would NOT be found in the conditions section of a homeowners insurance policy? Subrogation rights Duties of the insured Insurance premium Mortgagee clause The insurance premium is not shown in the conditions section of the homeowner policy. Which of the following is true regarding dealers physical damage coverage under a garage policy? It is a blanket limit for covered autos. It exten...