Daltonvicky

Misrepresentation - ANSWER-Willful deception of an insurance policy done by dissemination of information Controlled business - ANSWER-When the majority of insurance written is for family members Temporary License - ANSWER-Good for 6 months Foreign - ANSWER-An insurance company formed under the laws of another state Domestic - ANSWER-And insurance company formed under the laws of Florida Alien - ANSWER-And insurance company formed in another country Appointment - ANSWER-When aut...

Actual Cash Value (ACV) - ANSWER_The cost to replace an item of property at the time of loss, less an allowance for depreciation. Often used to determine amount of reimbursement for a loss (ACV=Replacement cost - depreciation) Aggregate Limit - ANSWER_A type of policy limit found in liability policies which limits coverage to a specified total amount for all losses occurring within the policy period Agreed Value - ANSWER_Written with property insurance policies. It waives the Coinsurance c...

Blanket Insurance - ANSWER-single amount of coverage on more than one building Bodily injury - ANSWER-bodily harm, sickness or disease resulting in death Business - ANSWER-trade, profession, occupation Cancellation - Auto - After 60 days - ANSWER-Must give 45 day notice for nonrenewal, 10 day notice for nonpayment. Cancellation - Auto - First 60 days - ANSWER-May cancel for failure to respond to notice of additional premium. May cancel for total destruction, purchasing insurance el...