Brown rmin - Study guides, Class notes & Summaries

RMIN 4000 Exam 2 - UGA Daniel Brown 2024 Solution Guide Graded A Private insurance industry Ans- US insurance industry employed 2.9m - closer to 3m now Insurers paid over $20 billion in premium taxes

Principal of Indemnity - ANSWER-insurer pays no more than actual amount of the loss; insurer should not profit from the loss Replacement cost - ANSWER-the cost to replace an inventory item in its identical form (similar workmanship and quality) Actual Cash Value - ANSWER-replacement cost - depreciation in property ins, usually based on the actual cash value of the property at the time of loss Market Value - ANSWER-the price at which property would sell Valued Policy - ANSWER-a pol...

RMIN 4000 FINAL EXAM BROWN UNIVERSITY ACTUAL QUESTIONS AND ANSWERS 100% CORRECT Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss frequency in 2019? -️️ 0.08 (16k/200k) Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister...

RMIN 4000 FINAL EXAM BROWN UNIVERSITY ACTUAL QUESTIONS AND ANSWERS 100% CORRECT

RMIN 4000 Test 3 Brown Updated 2024 Solution Guide Graded A Principal of Indemnity - insurer pays no more than actual amount of the loss; insurer should not profit from the loss

RMIN 4000 Exam 2 - UGA Daniel Brown 2024 Solution Guide Graded A

Brown RMIN 5100s Test 1 Exam Questions and Answers 100% Solved Categories of commercial loss exposures - 1. property loss 2. personnel loss 3. liability loss 4. net income loss Property loss - -tangible (real estate, personal property) -intangible (patent, copyright) Personnel Loss - death, disability, retirement, injury of employees liability loss - your responsibility for bodily injury, property damage, or financial loss to someone net income loss - reduction in income due to direct...

RMIN 4000 Test 4 Brown with Complete Solutions RMIN 4000 Test 4 Brown with Complete Solutions RMIN 4000 Test 4 Brown with Complete Solutions RMIN 4000 Test 4 Brown with Complete Solutions Legal wrong - ANSWER-a violation of a person's legal rights, or a failure to perform a legal duty owed to a certain person or to society as a whole types of legal wrong - ANSWER-crime, breach of contract, tort Tort - ANSWER-a legal wrong for which the court allows a remedy in the form of moneta...

Brown RMIN 5100s Test 1 Questions And Answers 100% Solved Categories of commercial loss exposures 1. property loss 2. personnel loss 3. liability loss 4. net income loss Property loss -tangible (real estate, personal property) -intangible (patent, copyright) Personnel Loss death, disability, retirement, injury of employees liability loss your responsibility for bodily injury, property damage, or financial loss to someone net income loss reduction in income due to direct loss Risk m...