Third party losses - Study guides, Class notes & Summaries

Florida 6-20 All Lines Adjuster Test| 276 questions| 50 Pages| With Complete Solutions Florida 6-20 All Lines Adjuster Test| 276 questions| 50 Pages| With Complete Solutions 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 Re...

GEORGIA PROPERTY & CASUALTY INSURANCE EXAM Prep (Latest 2024/ 2025 UPDATE) QUESTIONS AND VERIFIED ANSWERS| 100% CORRECT| GRADE A Q: Which insurance principle states that if a policy allows for greater compensation than the financial loss incurred, the insured may only receive benefits for the amount lost? Answer: Indemnity Q: legal process that gives the insurer, after payment of a loss, the right to seek recovery from a third party that was responsible for the loss Answer:...

claim a demand by a person or business seeking to recover from an insurer for a loss that may be covered by an insurance policy claimant anyone who submits a claim to an insurer first party the insured in an insurance contract third party a person or business who is not a party to the insurance contract bu who asserts a claim against the insured claim representative (or adjuster) a person responsible for verifying coverage, determining the cause of loss, determining the amount of damages ...

From a risk management viewpoint, insurance is used to A. Prevent the cost of losses B. Reduce the cost of losses C. Transfer the cost of losses D. Isolate the cost of losses. - Answer C. Transfer the cost of losses. A loss exposure is: A. Any condition that presents the possibility of a loss. B. Any condition that precludes the chance of loss. C. The same thing as a peril. D. The same thing as a hazard. - Answer A. Any condition that present the possibility of a loss. Some loss exposur...

RSK 4802 EXAM PACK 2022 JANUARY /FEBRUARY 2016 QUESTION1.1 ai) Risk management is an important process because it empowers a business with the necessary tools so that it can adequately identify and deal with potential risks. Once a risk has been identified, it is then easy to mitigate it. In addition, risk management provides a business with a basis upon which it can undertake sound decision-making. -For a business, assessment and management of risks is the best way to prepare for even...

Exam Prep NASCLA Contractor's Guide to Business, Law, and Project Management, Florida 1st Edition Practice Test 2 Already Passed 1. Which of the following bonds guarantees that the contractor has paid the subcontractor? A. Bid bond B. Performance bond C. Payment bond D. James bond Payment Bond 2. The _____________ method recognizes income when the employer has done the work, yet has not received the income. A. Accrual B. Appreciation C. Deprecation D. Cash...

FAC1601 Assignment 5 (WORKINGS & ANSWERS) Semester 1 2023 () - DUE 12 June 2023 100% TRUSTED workings, explanations and solutions. For assistance call or whatsapp us on +25477 954 0132 . Gill and Zaahir are in the business of supplying and installing solar panels in the form of a partnership trading as Solar Installations. Gill and Zaahir share profits and losses in the ratio1:2 respectively. On 31 May 2023 the following information was extracted from the accounting records of the partnership: ...

Insurance Terms and Related Concepts. What is insurance? - Answer-transfers the risk of loss from an individual or business entity to an insurance company, which in turn spreads the costs of unexpected losses to many individuals. Insurance Terms and Related Concepts. What is risk? - Answer-the uncertainty or chance of a loss occurring. Insurance Terms and Related Concepts. What are the 3 types of hazards? - Answer-Physical, moral and morale. Insurance Terms and Related Concepts. Wha...

NASCLA Business, Law and Project Management (Basic) - Practice Test 2 Already Graded A The _____ method recognizes income when the employer has done the work but has not received the income. A. Accrual B. Appreciation C. Depreciation D. Cash A. Accrual 13-7 A _____ bundles all cost factors for entire task. A. Lump sum B. Cost plus C. Percent completion method D. Unit price method D. Unit price method 6-7 _____ requires paying prevailing wages in federally-financ...

WATER RESTORATION Exam IICRC (2023/ 2024 Update) Questions and Verified Answers| 100% Correct| Grade A Q: Third party experts are commonly referred to as Indoor Environmental Professionals, or ____. Answer: IEP Q: Losses where regulated or hazardous materials have contaminated the structure do not change the _______ of water. Answer: category Q: pre-existing conditions should be identified documented and communicated to all _________ parties during the initial inspec...