Exam (elaborations)
2-19 Florida Statutes, Rules and Regulations Pertinent to General Lines Insurance Questions and Answers 2024
- Course
- Institution
2-19 Florida Statutes, Rules and Regulations Pertinent to General Lines Insurance
[Show more]
Content preview
2-19 Florida Statutes, Rules andRegulations Pertinent to General Lines
Insurance
Florida Automobile Joint Underwriting Association: - answer Market source for persons
who are unable to purchase Auto insurance through normal channels.
Florida Automobile Joint Underwriting Association Operations: - answer Operations are
overseen by a Board of governors
Deposit Premium by the applicant: - answer Agents have the authority to intermediately
bind coverage upon securing a completed and signed application and upon payment of
the required deposit premium.
Coverage trough the FAJUA is available to: - answer Florida Residents, military
nonresidents stationed in Florida and nonresidents for automobile registered in Florida
or if subject to the Florida No Fault law.
Maximum coverage under FAJUA: - answer100/300/50
Commercial vehicles under FAJUA: - answerFor commercial vehicles the only coverage
available are Liability, PIP and UM.may secure liability limits to 100/300/50 Physical
Damage is available only for commercial vehicles under 10,000 pounds
Citizens Property insurance Corporation: - answerTo be eligible the applicant must
certify , they are unable to to obtain,and have no received an offer for residential
property insurance , from any authorizes insurer that is less than 15% higher than the
price quoted through Citizen.
Citizens uninsurable properties: - answerCitizens has several basic underwriting criteria.
examples of uninsurable properties include: Vacant or unoccupied, properties over 50
years old unless the wiring, heating and roof have been updated,do-it yourself
construction
Citizens Property insurance Corporation: - answerCoverage is provided for eligible risks
using " standard" homeowners forms HO-3, 4, 6 and 8 and dwelling fire forms DP1 and
DP3.
Citizens Property insurance Corporation: - answerCoverage are available for buildings
under construction, but only if intended to be occupied by the name insured.
replacement cost on content coverage is available on homeowners forms.
, Citizens Property Insurance Corporation - answerThere is no coverage for animal
liability or off- premises theft. There are no endorsements available for schedule:
Personal property, , special computer coverage, home day care, personal injury,
water/sewer-back-up, etc)
Citizens Property Insurance Corporation Standard deductible: - answerThe standard
deductible is $1,000 all other perils and 2% hurricane except for mobile home
homeowners is $500 and 2%
Florida Worker's Compensation Joint Underwriting Association (FWCJUA) - answerThe
FWCJUA is a state-created market to provide coverage for those employers who are
unable to either self-insure or secure it through normal marking channel. Operations are
run for the Board of Governors.
Florida Worker's Compensation Joint Underwriting Association (FWCJUA) - answerto
be eligible for coverage under FWCJUA, the employer must have been unable to obtain
coverage from a least two other authorized carriers, and must not be indebted for any
previous unpaid Workers Comp premiums
Florida Worker's Compensation Joint Underwriting Association (FWCJUA) -
answerOnce an agent has a producer agreement with the FWCJUA the prescribed
applications may be submitted , with the be required deposit premiums. Coverage
becomes bound at 12:01 a.m following the date of receipt at the FWCJUA. The
employer then receives a 30 day binder.
All FWCJUA insureds are assigned to: - answerone of 3 tiers. Tier one, are set at 25%
above comparable voluntary market rates.Tier two, are set 50% above voluntary market
rates. Tier three are to be actuarially sound from the beginning.
FWCJUA Renewal: - answerRenewal notice specifying the expiration date, coverage
are sent to each insured 45 days prior to expiration. If the premium is not received a
new application must be submitted.Insureds are entitled to pro-rata cancellation of a
policy at any time.
On Workers comp under construction industry: - answerSole proprietors are considered
employees, Partners are considered employees, a general contractor. Three or more
corporate officer may exclude themselves.
Workers Com, Under construction industry, which an employee? - answerPart time
employees who work less than 20 hours a week.
Which would o result in the denial of worker's compensation benefits? - answera food
services employee who refuses to wear plastic gloves loses a finger in a slicing
machine.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller julianah420. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72042 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now