SC Property, Casualty, Surety and Marine Adjuster 19-11 Licensing Course Questions With Solutions 100% Correct
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Course
South Carolina Property And Casualty Insurance
Institution
South Carolina Property And Casualty Insurance
SC Property, Casualty, Surety and Marine
Adjuster 19-11 Licensing Course Questions
With Solutions 100% Correct
Exclusions Describe property, perils, hazards, or losses arising from specific causes that
are not covered by the policy. Found in the exclusions section of the policy but can also ...
SC Property, Casualty, Surety and Marine
Adjuster 19-11 Licensing Course Questions
With Solutions 100% Correct
Exclusions Describe property, perils, hazards, or losses arising from specific causes that
are not covered by the policy. Found in the exclusions section of the policy but can also be
scattered throughout the policy.
Endorsements Used to add, delete, or change any of the policy parts. Endorsements may
alter the content of the declarations and insuring agreements, and they may contain conditions,
exclusions and definitions. This is considered a written modification to the policy.
Definitions Define important terms used in the policy language. Some policies list
definitions in a distinct section have that title.
Policy Period The policy applies only to accidents and losses which occur during the
policy period as shown in the declarations.
Policy Territory Liability policies define the term coverage territory to clearly identify
where the coverage applies
, SC Property, Casualty, Surety and Marine
Adjuster 19-11 Licensing Course Questions
With Solutions 100% Correct
Cancellation and Non-Renewal All polices contain cancellation and non-renewal
provisions. A cancellation that occurs before a policy has expired is known as a mid-term
cancellation. A non-renewal occurs at the expiration date of the policy when the insurer sends a
notice prior to the expiration date of the policy advising the insured that the policy will not be
renewed.
Deductibles Self-insured part of an insured loss. Usually applies to first party claims such
as property claims or auto physical damage claims. The insured must bear this loss. Deducted
from claims payment before that amount is remitted to the claimant.
Non-concurrency Situation that exists when the same property is covered by more than
one policy, but the policies are not identical as to the extent of the coverage provided.
Primary Insurance In cases where more than one policy is in force, the primary policy
pays first.
Excess Insurance An insurance policy that pays benefits only when coverage under other
applicable insurance policies has been exhausted.
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