Insurance company answ - Study guides, Class notes & Summaries

What is the underwriter's goal? - ANSWER-To write a book of business in which the actual losses approximate the expected losses. Gertrude is going to become an insurance agent. She would like to work in an agency that represents many different insurance companies. Gertrude will go to work for a(n) - ANSWER-Independent agency When a client suffers a loss, MegaInsurers is expected to respond promptly to settle the resulting claim. Depending on the line of insurance, claim costs generally con...

WHO REGULATES INSURANCE COMPANIES AND INSURANCE AGENTS IN FLORIDA? a) Bail Bond Regulatory Department of Florida b) Chief Financial Officer c) Lexington Insurance Company d) None of the Above -ANSWER b) Chief Financial Officer WHAT IS THE NAME OF THE PERSON IN CHARGE OF THE DEPARTMENT OF FINANCIAL SERVICES; a) Jebb Bushwater b) Jimmy Patronis c) Jeff Atwater d) None of the above -ANSWER b) Jimmy Patronis WHICH TWO CHAPTERS OF THE FLORIDA STATUTES GOVERNS BAIL BONDSMEN IN ...

Health Insurance (Exam FX) Questions And Answers 100% Correct A Grade. Agent/Producer - ANSWERS-A legal representative of an insurance company Broker - ANSWERS-An insurance producer not appointed by an insurer and whom represents the client

Which of the following is not a duty of an insurer in case of a loss? Conduct a thorough investigation Establish claim procedures and methods of documentation Acknowledge receipt of a claim in a timely fashion Separate the damaged property from the undamaged property and protect the property from further loss - ANSWER The correct answer is: Separate the damaged property from the undamaged property and protect the property from further loss. EXPLANATION: The insurance company is not ...

A participating company is also referred to as which type of insurer? - Answer- Mutual insurer An insurer owned by its policyholders, is called a - Answer- Mutual insurer What is a participating life insurance policy? - Answer- Contract that allows the policyowner to receive a share of surplus in the form of policy dividends An insurer enter into a contract with a third-party to ensure itself against losses from insurance policies it issues. What is this agreement called? - Answer- Rein...

ARKANSAS HEALTH INSURANCE EXAM NEWEST WITH COMPLETE QUESTIONS AND CORRECT VERIFIED ANSWERS (DETAILED ANSWERS) ALREADY GRADED A+ 100% GUARANTEED TO PASS CONCEPTS!!! _______ is NOT an element of a valid contract: - ANSW..Countersignature "Maximum benefits" refers to the: - ANSW..Upper limit of the total lifetime benefits the insurance company will pay

Arkansas Health Insurance Study Questions NEWEST 2024 WITH COMPLETE QUESTIONS AND CORRECT VERIFIED ANSWERS (DETAILED ANSWERS) ALREADY GRADED A+ 100% GUARANTEED TO PASS CONCEPTS!!! A certificate of authority does which of the following? *Authorizes the insurance company to transact business in AR *Gives the commissioner the authority to make insurance laws in AR *Authorizes the agent to sell insurance *Authorizes the customer to complete a free medical exam - ANSW..Authorizes the insuranc...

2023 LOUISIANA PROPERTY &CASUALTY INSURANCE // LOUISIANA PROPERTY&CASUALTY INSURANCE COURCE EXAM WITH QUESTIONS AND ANSWERS ALREADY PASSED Which One Of The Following Is NOT A Possible Defense Against Negligence? A. Statue Of Limitations B. Doctrine Of Reasonable Expectation C. Intervening Cause D. Comparative Negligence - CORRECT ANSWDoctrine Of Reasonable Expectation What Is A Hazard? - CORRECT ANSW-An Increase In The Possibility That A Loss Might Occur. The Purpose Of...

Certificate of Authority CORRECT ANSWER-Authorizes a company to transact business in the state of idaho Alien Company CORRECT ANSWER-Company(s) incorporated outside the state of Idaho When an agents personal information changes they have ______ days to notify ____ ______ __ _______. CORRECT ANSWER-30 days / The director of insurance The Director of Insurance CORRECT ANSWER-General Duties : Enforce statute laws of the code Trial Court Administrator CORRECT ANSWER-File and maintain all...

GA Life/Health Ins Exam Questions with 100% Correct A claiment wants to bring a recovery action against an insurance company for a loss claimed under a policy. The action must be brought a) Within 2 years. b) Within 3 years. c) Immediately. d) Only within 60 days. - Correct Answer ️️ -b) Within 3 years. Some states require a provision limiting the time parameters in which a claimant may seek recovery from an insurer under a policy. Georgia requires legal action to be brought forth ...