Property and casualty la - Study guides, Class notes & Summaries

Wisconsin Property and Casualty Latest Update Graded A+ FAIR Fair Access to Insurance Requirements Elements of a Legal Contract. L. O. A. C. • Consideration • Legal Purpose • Offer • Acceptance • Competent Parties Consideration Money and statements made on application Legal Purpose Risk transfer doesn't violate the law Offer Insured submits application and first month premium to insurer Insurer accepts or insurer declines the risk Counteroffer Agrees to iss...

Oklahoma Property and Casualty Latest Update Graded A+ Representations Statements made by the applicant on an insurance application. Contract of Utmost Good Faith An insurer must rely o the truthfulness and integrity of the applicant. Contract of Adhesion When one party constructs the contract and the other party has no input. Elements of a Legally Binding Contract 1. Legal Purpose 2. Agreement (Offer and Acceptance) 3. Competent Parties 4. Consideration Special Peril Ty...

TN Property and Casualty Laws Latest 2024 Graded A+ Hearings and Judicial Review The Commissioner may suspend or revoke a business entity's license if a hearing finds that a licensee's violation was known or should have been known by at least one of the entity's partners, officers, or managers and the violation was neither reported to the Commissioner nor sanctioned to prevent further noncompliance. A person whose license is surrendered or lapsed may nonetheless be held accountabl...

Agents and brokers must notify the Insurance Department of any change in their residence or business address within: - correct answer 30 days Insurers issuing liability policies covering motor vehicles in Pennsylvania must offer all of the following coverages EXCEPT: A) injuries incurred on the job. B) accidental death benefit. C) funeral benefit. D) income loss benefit. - correct answer A What is the maximum term of a temporary license that is issued as a result of a licensee's dea...

Pennsylvania Property and Casualty Law Supplement Questions and Answers Already Passed Agents and brokers must notify the Insurance Department of any change in their residence or business address within: 30 days Insurers issuing liability policies covering motor vehicles in Pennsylvania must offer all of the following coverages EXCEPT: A) injuries incurred on the job. B) accidental death benefit. C) funeral benefit. D) income loss benefit. A What is the maximum term of a tempo...

PROPERTY AND CASUALTY ACTUAL EXAM QUESTIONS AND DETAILED CORRECT ANSWERS | PROPERTY AND CASUALTY LATEST

West Virginia Property and Casualty Law Exam New 2025 Latest Version Best Studying Material with All Questions and Answers

Pennsylvania Property and Casualty Law SupplementAgents and brokers must notify the Insurance Department of any change in their residence or business address within: - correct answer 30 days Insurers issuing liability policies covering motor vehicles in Pennsylvania must offer all of the following coverages EXCEPT: A) injuries incurred on the job. B) accidental death benefit. C) funeral benefit. D) income loss benefit. - correct answer A What is the maximum term of a temporary licens...

Pennsylvania Property and Casualty Law SupplementAgents and brokers must notify the Insurance Department of any change in their residence or business address within: - correct answer 30 days Insurers issuing liability policies covering motor vehicles in Pennsylvania must offer all of the following coverages EXCEPT: A) injuries incurred on the job. B) accidental death benefit. C) funeral benefit. D) income loss benefit. - correct answer A What is the maximum term of a temporary licens...

Mississippi Property and Casualty Law Supplement Questions and Answers Already Passed Making false, maliciously critical, or derogatory statements about an insurer, with the intent of causing injury, is an illegal practice known as... Defamation The Commissioner of Insurance in Mississippi is elected to office for a term of... 4 Years All of the following are true about temporary producer licenses issued by the Commissioner except A. temporary licenses are issued for a limited t...