Rplu - Study guides, Class notes & Summaries

RPLU Professional Liability Reinsurance Test | Questions and Answers Verified 100% Correc

RPLU Exam 2024 with Questions and Answers Verified 100% Correct Latest Updat

RPLU Module 3 Test | Questions and Answers Verified 100% Correct Latest Update

RPLU 8 - Directors & Officers Intro Exam | Questions and Answers Verified 100% Correct

RPLU 11 Employment Practice Liability Exam Study Questions and Answers Verified 100% Correct Latest Update

How do you prove negligence for contractual liability? - ️️Plaintiff must prove: 1. That the contract existed 2. Contract was breached 3. Plaintiff suffered injury or damage 4. Damages were caused by breach of contract Directors and Officers Insurance - ️️-Provides coverage for directors and officers for liability that may arise fro claims/suits filed by shareholders, regulators, employees, and others. -In some instances, even the company they work for can sue the board for mism...

Some well-known lawsuits, which involved corporate malfeasance and alleged improper accounting practices, include - ️️Worldcom, Enron, and Cedant. Each of these cases resulted in tremendous costs for litigation, generating settlements of $6.2 billion, $7.2 billion, and $3.7 billion respectively Define reinsurance and describe its role in the insurance industry. - ️️Reinsurance is called insurance for insurance companies or a form of financial risk transfer. It is a mechanism insura...

Back Pay - ️️The monetary relief to reimburse wages and/or benefits lost as a result of unlawful discrimination or wrongful termination;; Wages the employee would have earned but for the unlawful treatment by the employer minus any amount the employee was able to earn in the interim Americans with Disabilities Act ADA - ️️A federal statute that protects disabled (physical or mental) individuals from employment discrimination and requires employers to offer reasonable accommodations...

Bona Fide Occupational Qualification BFOQ - ️️A job requirement that permits an employer to discriminate legally based on sex, age, religion, national origin, or physical or mental condition - The requirement must be carefully justified and based on actual job needs not stereotypes Base Rate - ️️The rate per unit of insurance that is based on criteria specific to a particular line of coverage and that is a component of a PLI rating plan used to determine PLI premiums, before premiu...

Corporate Governance - ️️The system by which corporations are directed and controlled, and the relationship between the participants, including the shareholders, directors, officers, and employees Business Judgment Rule - ️️A defense used in D&O claims so that others may not second-guess business decisions. The rule assumes that the directors and officers acted on an informed basis, in good faith, and in the honest belief that the action taken was in the company's best interest ...