Claims made policy - Study guides, Class notes & Summaries

Casualty Insurance Exam Coverage that is triggered when a claim is first made against the insured, regardless of when the injury took place, is known as - correct answer Coverage under the claims-made form According to the other insurance condition, which of the following are methods used to decide how the claim will be divided? - correct answer Contribution by equal shares or contribution with limits Which of the following limits of liability in a commercial general liability policy is t...

NY Accident & Health Insurance Licensing Exam Study Guide (2024) || Questions & Answers (100% Correct) NY Accident & Health Insurance Licensing Exam Study Guide (2024) || Questions & Answers (100% Correct) Which section of an insurance policy contains language to assist an insurance company in managing morale and moral hazards - ANSWER - The exclusions The funds assessed to be deposited into the NY Special Disability Fund are deposited with? - ANSWER - The Commissioner of Taxation and Fin...

1. Identify the two distinct legal systems used in Canada. - Quebec Civil Code and Common Law 2. Why is common law also called "judge-made law"? - Common Law is based on precedent, on decisions made by judges in previous similar cases. 3. What is the Civil Code of Quebec? - General law that contains all of the basic provisions that govern life in society, namely relationships among citizens and the relationships between people and property. 4. Give an example of a law that has been enact...

Adjuster Pro Exam 2024 Questions and Answers John is doing some lawn maintenance using a steel blade on his weed-whacker. He fails to properly tighten the blade and it comes loose while he is trimming some tall grass at the edge of his property. The blade flies off towards his neighbor's house and crashes into the HVAC unit, severing the lines and effectively destroying the unit. Which coverage in John's homeowners policy might pay for the damage he caused to his neighbor's HVAC system?...

Arizona Life Insurance Exam Questions and Answers (Latest Update 2023) Verified Answers a whole life policy that provides a choice of dividend options include the following statement about dividends they accrue at a guaranteed rate they are deferred for one year they are not guaranteed they are guaranteed after the first year - Correct Answers they are not guaranteed When there is a named beneficiary on a life insurance policy, the death benefits 1. are directed to a trustee ...

CCIFP Exam Questions & Answers | 100% Correct Answers | Verified | Latest 2024 Version What is the legal definition of a contract? What is the IRS definition? - An agreement between 2 parties that is legally binding & enforceable under applicable law. Strategic planning must consider external factors. These factors change rapidly and are outside the contractor control. - 1. Political 2. Regulatory 3. Market Outlook 4. Social 5. Technology 6. Economic Strategic planning must...

Comprehensive Final Certification Exam: Illinois Health Insurance (Xcel Solutions) Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? - Answer ️️ -home health care Jennifer is required to pay a specific sum out of pocket before any benefits are paid in a year. Her health policy most likely contains a(n) - Answer ️️ -deductible When a producer submits an insurance applicaton, the application is REQ...

AINS 101 EXAM / 80+ QUESTIONS AND VERIFIED ANSWERS 2023/2024 / GRADED A+. AINS 101 1. The two main sectors of the insurance industry are: Property-casualty insurance and life-health insurance. 2. Because insurance contracts impose an obligation for ethical practices and behaviors on the parties while dealing with one another, an insurance contract is called a: Contract of utmost good faith. 3. Earned premiums are shown on an insurer's income statement because they are: Revenues 4. De...

Texas Life And Health Insurance Exam Questions With Correct Answers | Latest 2023/2024 (Graded A+). Which of the following actions is NOT possible with a Universal Life policy? - Correct Answer-Premiums may be applied as a credit against income tax Which of the following will a Long Term Care plan typically provide benefits for? - Correct Answer-home health care Which health policy clause stipulates that an insurance company must attach a copy of the application to the policy to ensure that...

Lender Interest Provisions - Answer Protects lender interest by allowing the lender certain rights in the policy. Coinsurance Penalty - Answer A property insurance provision that penalizes the insured's loss recovery if the limit of insurance purchased by the insured is not equal to or greater than a specified percentage (commonly 80 percent) of the value of the insured property. Underinsured - Answer A situation resulting from a failure to carry enough coverage on the value of a property...