Stock insurers c - Study guides, Class notes & Summaries

General Insurance Level 1 – Alberta Questions And Corrected Answers 2024 Review <100% Pass!!> Your insured, a sole proprietor, purchased a building valued at $1 million. The insurance policy has a coinsurance clause based on the replacement cost value of 90%. Contrary to your advice, your insured insures the building for only $500,000. He suffers a windstorm loss totaling $150,000. How much will the insurer pay? a) $75,000 b) $83,333 c) $150,000 d) $93.755 - ANSWER : b...

RMIN 4000 Exam 2 Questions & Answers Major Types of Private Insurers - ANS-Stock Insurers Mutual Insurers Lloyds of London Stock Insurer - ANS--A corporation owned by stockholders. -Objective is to earn profits for the stockholders by increasing stock and paying dividends. (Progressive, Allstate, Metlife, etc.) Mutual Insurer - ANS--a corporation owned by policyholders. -profits are distributed to policyholders by dividends or rate reductions. (statefarm, nationwide, liberty mutual) ...

Life, Accident and Health Insurance Ohio Questions and Answers (2024 / 2025) (Verified Answers) Which is a FALSE statement? a. Agents act in a fiduciary capacity when handling premiums. b. Misrepresentation on an application can void coverage, if material. c. Mutual life insurers cannot guarantee their future dividend scale. d. You can protect future dividends on a non-participating policy. - CORRECT ANSWER D. Only participating policies might pay dividends to policy owners. Stock ...

When does "adverse selection" exist? a.) when an insurer's stock portfolio under performs b.) When the risks accepted for insurance has a LOWER likelihood of experiencing loss than an average group c.) When the risks accepted for insurance has a HIGHER likelihood of experiencing loss than an average group d.) When total premiums exceed total claims for a calendar year correct answers when the risks accepted for insurance has a HIGHER likelihood of experiencing loss than an average group ...

An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock A. mutual funds not paid out after paying claims and other operating costs are returned to the policy owners in the form of a dividend. if all funds are paid o...

IDAHO PROPERTY INSURANCE EXAM | QUESTIONS & 100% CORRECT ANSWERS (VERIFIED) | LATEST UPDATE | GRADEA+ The term flood refers to all of the following EXCEPT A. an overflow of inland tidal waters B. collapse of land as a result of excessive erosion due to flood C. mudslides D. sewer backup Correct Answer: Sewer backup Insurers may be classified according to their financial strength. This includes all of the following factors EXCEPT... A. Number of clients B. Loss experience C. Inv...

LIFE, ACCIDENT AND HEALTH INSURANCE OHIO: EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+ Which statement BEST describes the tax responsibilities under a Business Overhead policy? a. Premiums are deductible, benefits are deductible. b. Premiums are deductible, benefits are taxed. c. Premiums are not deductible, expenses are deductible. d. Premiums are not deductible, benefits are taxed. - -Premiums are deductible, benefits are taxed The Group Insurance provision that prevents two insurers f...

Your insured, a sole proprietor, purchased a building valued at $1 million. The insurance policy has a coinsurance clause based on the replacement cost value of 90%. Contrary to your advice, your insured insures the building for only $500,000. He suffers a windstorm loss totaling $150,000. How much will the insurer pay? a) $75,000 b) $83,333 c) $150,000 d) $93.755 - Answer b) $83,333 An insured property is covered by two separate commercial policies placed with two different insurers...

RMIN 4000 Edmunds Exam 2 Qs&As major types of private insurers - ANS-Stock, Mutual, and Lloyd's of London stock insurers - ANS-corporation owned by stockholders. objective is to earn profit for stockholders by increasing the value of the stock and paying dividends Mutual insurers - ANS-a corporation owned by policyholders. profits are distributed to policyholders by dividends or rate reductions types of mutual insurers - ANS-advance premium mutual, assessment mutual, and fraternal insure...

Major Types of Private Insurers - ANSWER-Stock Insurers Mutual Insurers Lloyds of London Stock Insurer - ANSWER--A corporation owned by stockholders. -Objective is to earn profits for the stockholders by increasing stock and paying dividends. (Progressive, Allstate, Metlife, etc.) Mutual Insurer - ANSWER--a corporation owned by policyholders. -profits are distributed to policyholders by dividends or rate reductions. (statefarm, nationwide, liberty mutual) types of mutual insurer...