Supplementary payments - Study guides, Class notes & Summaries

An employee has been asked to use his own personal vehicle to perform certain tasks on behalf of his employer. What coverage is used under the business auto policy to protect the employer for lawsuits when the employee has an accident that causes legal action against the employer? - Employers nonownership coverage. This coverage protects the employer and not the employee. The employee is covered under his own PAP policy. Replacement cost coverage is best defined as: - Replacement without ded...

Texas Property and Casualty Insurance Exam Questions with 100% Correct Answers Which of the following factors concerning the Garage policy is incorrect? -Section 1 is used to list the covered autos with their appropriate symbol - section II is liability coverage - Garage Operations other than covered auto relates to the ownership, maintenance or use of covered autos - Garage operations- covered autos is a coverage available under section II liability Garage Operations other than covered au...

AINS 102 (New 2023/ 2024 Update) Understanding Personal Insurance Exam Prep_ Questions and Verified Answers_ 100% Correct QUESTION Real property (realty) Answer: Tangible property consisting of land, all structures permanently attached to the land, and whatever is growing on the land. QUESTION Reinsurance Answer: The transfer of insurance risk from one insurer to another through a contractual agreement under which one insurer (the reinsurer) agrees, in return fo...

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...

New York State General Adjuster 17-70 Exam || Questions & Answers (Rated A+) New York State General Adjuster 17-70 Exam || Questions & Answers (Rated A+) An employee has been asked to use his own personal vehicle to perform certain tasks on behalf of his employer. What coverage is used under the business auto policy to protect the employer for lawsuits when the employee has an accident that causes legal action against the employer? - ANSWER - Employers non-ownership coverage. This coverage p...

Under the DP-3 special form, which of the following would be covered? - Answer- Theft of outside lighting attached to the dwelling. A worker has been injured on the job. He is off work for 4 weeks. The worker's weekly wage is $210. How much will he receive from workers compensation for loss of wages? - Answer- The worker will receive 66 2/3% of his average weekly wage. He was off from work 4 weeks. Four times $210.00= $840.00. $840.00 times 66 2/3 equals a payment due him of $560.00. An i...

LA Claims Adjuster Property and Causality Practice Exam 2 with Complete SolutionsLA Claims Adjuster Property and Causality Practice Exam 2 with Complete SolutionsLA Claims Adjuster Property and Causality Practice Exam 2 with Complete Solutions A single Declarations page common to all coverages A single conditions section common to all coverages - ANSWER-A commercial package policy always includes Send the insured a reservation of rights letter - ANSWER-If the insured fails to report claim i...

Spouse of a partner Which of the following would be insured under the CGL policy? 3 years Under the PAP, how long does an injured party have following an accident to report a Medical Payments Claim? Proximate Cause is a secondary cause of loss. All of the following statements regarding property insurance terminology are true, except: The Commercial General Liability policy Section II of the BOP policy provides the same liability coverage as: An unintentional tort ...

What is true about controlled forms? - These forms are usually issued according to published rules and rates When will an insurance company pay damages on behalf of an insured under a CGL policy? - when the company determines that the insured is legally liable A loss reserving method that establishes aggregate reserves for all claims for a single type of insurance is known as - Loss ratio method What is a "board foot" ? - A piece of lumber 12" wide by 1' long by 1" thick - this is a u...

In order for forms HO-2, HO-3, and HO-5 to provide coverage, a dwelling must be insured for at least what percentage of replacement cost? - 80% Coverage for medical payments under a Personal Auto Policy applies to expenses following a covered accident that are incurred and services rendered within what time period? - 3 years An agent offers a client free tickets to a sporting event in exchange for the purchase of an insurance policy. What is the agent guilty of? - Rebating A businessowners...