Bailees customers policy - Study guides, Class notes & Summaries

Abandonment Condition - Correct Answer A condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. Accident - Correct Answer A loss that occurs at a specific time and place Actual Cash Value (ACV) - Correct Answer Today's replacement cost minus depreciation. Depreciation from wear and tear, or obsolescence. admitted insurer; authorized insurer - Correct Answer Comp...

CAIB 2 - CHAPTER 5 EXAM | Questions & Answers (100% CORRECT) - Drycleaners - Garages - Jewellers - Furriers - Trucking firms - Couriers. - ANSWER - Examples of businesses that have a bailee's exposure. One who has temporary custody of the personal property of another for a purpose other than sale, and who is compensated as a condition of the custody. - ANSWER - "Bailee for hire." Ordinary care. - ANSWER - The level of care required of bailees by law. The legal duty imposed on b...

Abandonment Condition - Correct answer-A condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. Accident - Correct answer-A loss that occurs at a specific time and place Actual Cash Value (ACV) - Correct answer-Today's replacement cost minus depreciation. Depreciation from wear and tear, or obsolescence. admitted insurer; authorized insurer - Correct answer-Company...

Abandonment Condition - Answer- A condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. Accident - Answer- A loss that occurs at a specific time and place Actual Cash Value (ACV) - Answer- Today's replacement cost minus depreciation. Depreciation from wear and tear, or obsolescence. admitted insurer; authorized insurer - Answer- Company that meets a state insur...

State Farm Insurance License Exam with complete rated solutions Abandonment Condition A condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. Accident A loss that occurs at a specific time and place Actual Cash Value (ACV) Today's replacement cost minus depreciation. Depreciation from wear and tear, or obsolescence. admitted insurer; authorized ...

In the context of risk, the chance of being injured while driving to and from work, loading a truck at work, moving furniture at home, or falling in an icy parking lot at the mall are all examples of A. Possibilities. B. Uncertainties. C. Probabilities. D. Losses. - Correct Answer-A. Possibilities. The statement, "There is a five percent chance that John will be injured in an automobile accident while driving to work tomorrow," is an example of A. Quantifying risk. B. Veri...

Abandonment Condition ANSWER - A condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. Accident ANSWER - A loss that occurs at a specific time and place Actual Cash Value (ACV) ANSWER - Today's replacement cost minus depreciation. Depreciation from wear and tear, or obsolescence. admitted insurer; authorized insurer ANSWER - Company that meets a state insurance...

Abandonment Condition - ANSWER A condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. Accident - ANSWER A loss that occurs at a specific time and place Actual Cash Value (ACV) - ANSWER Today's replacement cost minus depreciation. Depreciation from wear and tear, or obsolescence. admitted insurer; authorized insurer - ANSWER Company that meets a state insurance...