Nfip an agreement - Study guides, Class notes & Summaries

As an inducement to insurance, giving any special discount, reduction of premium, special favor, or other valuable consideration is called? correct answers Rebating If the state's minimum auto liability limits are 25/50/25, a driver with the limits of 10/20/10 is considered to be an: correct answers Uninsured Motorist The insurer's promise to pay benefits according to the terms of the policy is found in what part of an insurance agreement? correct answers Insuring Agreement Unendorsed...

NJ Property and Casualty Insurance Exam Solutions, Latest 2023 Graded A+. What is the NFIP subsidized rate for a single family? - Answer Building $35K, Contents $10K What is the NFIP subsidized rate for Other Residential? - Answer Building $100K , Contents $100K What is the NFIP subsidized rate for small businesses? - Answer Building $100K, Contents $100K What is the NFIP subsidized rate for other non-residential? - Answer Building $100K, Contents $100K What is the wait period before fl...

Of the more than 21,000 communities that participate in the NFIP, those have also enrolled in the Community Rating System are: correct answers About 1,000 Preferred Risk Plans were created to insure: correct answers Structures. in medium and low risk flood zones International terrorists might launder money through insurance in order to: correct answers All of these answers are correct The most common E&O claim filed against an insurance producer with regard to flood insurance is for: co...

In the Michigan Insurance Code, Chapter 45, insurance fraud defines financial loss as all of the following EXCEPT - additional premiums Which of the following statements are NOT true regarding the limited fungi, wet or dry rot , or bacteria coverage - HO 04 26 endorsement is used with HO 03 forms A "repair cost policy" is a home insurance policy in which the insurance carrier bases the coverage - on the property's market value B has a property policy and would like to know the perils...

To prevent recovery beyond the amount of the insured's actual loss, the policy will contain: An Other Insurance Clause Collision coverage of an auto policy covers: a) road damage to the tires b) upset of the vehicle c) frozen engine block d) falling objects B) upset of the vehicle The maximum amount of payable for all losses resulting from one event is known as the: a) occurrence limit b) aggregate limit a) occurrence limit Which of the following is a cause of loss...

Adjusterpro 5- Other Coverages Questions And Answers With Verified Solutions Latest Updated 2024

Florida No-Fault Tort Exemption - Those who comply with the law are granted limited immunity from suits of others through PIP coverage. 4 Exceptions to Tort Exemption(Threshold of No-Fault) – 1. Significant and Permanent loss of bodily function. 2.Permanent injury other than scarring and disfigurement. 3.Significant and Permanent scarring or disfigurement. 4.Death What does NFIP stand for? - National Flood Insurance Program Form SR-22 - Drivers Convicted of DUI or a traffic felony over...

A flood damages a single-family dwelling that is in a community in the early stages of participation in the NFIP, but they are not yet considered participating. What is the maximum a resident may receive for damages to their personal property? - ANSWER $10,000 Under the Dwelling Broad Form, losses to an unattached garage are paid on which basis? - ANSWER Replacement Cost Which of the following is false regarding the Building and Personal Property Coverage Form? - ANSWER The policy covers v...

Why was the commercial Insurance Deregulation Act Created? - ANSWER-To protect the public from the adverse effects of excessive, inadequate, & unfair discriminatory rates & marketing practices Which policies issued must follow the provisions of the Commercial Insurance Deregulation Act? - ANSWER-Commercial policies When must rate amendments & policy forms be filed with the commissioner? - ANSWER-30 days before What losses are excluded from flood insurance? - ANSWER--Landslides -Sewer b...

Florida No-Fault Tort Exemption - Those who comply with the law are granted limited immunity from suits of others through PIP coverage. 4 Exceptions to Tort Exemption(Threshold of No-Fault) – 1. Significant and Permanent loss of bodily function. 2.Permanent injury other than scarring and disfigurement. 3.Significant and Permanent scarring or disfigurement. 4.Death What does NFIP stand for? - National Flood Insurance Program Form SR-22 - Drivers Convicted of DUI or a traffic felony over...