Webce flash qa 2024 - Study guides, Class notes & Summaries

WebCE Flash Questions and Correct Solutions 2024 Indirect Loss - Answer -A secondary loss that follows from a direct loss to insured property from a covered peril. Ex. Hotel expenses incurred by the insured while a fire-damaged home is repaired is an indirect loss that follows the direct loss of the home. Exclusive Agency System - Answer -An insurance distribution system in which producers (agents) represent a single company. Ex. In the exclusive agency system, insurers use independent c...