Cisr operations 1 - Study guides, Class notes & Summaries

Can be defined as a system or set of moral principles or practice - Ethics 7 Factors that can influence an individual's ethics are: - - Friends - Family - Society - Media - Belief Systems - Educational Institution - Legal Restraints 3 Benefits of being ethical – 1. Public Trust / Confidence Gained 2. Government Regulation Avoided 3. Enhanced Credibility Earned Examples of Government Regulation – - Limitations on how credit scoring is used in UW - Trust account fiduciary rules...

benefits of ethical behavior - ANSWER 1. public trust & confidence gained. 2. government regulation avoided 3. enhanced credibility 6 steps in ethical decision making - ANSWER 1. define problem 2. seek resources 3. brainstorm solutions 4. evaluate the alternatives 5. make decision 6. elvaluate decision estoppel - ANSWER prevents someone from arguing something that contradicts what was said previously examples of being unethical - ANSWER 1. intentionally underinsuring 2. rating a car ...

CISR Commercial Casualty I Lesson 2 L Exam 59 Questions with Answers Summary of Exposures covered by the CGL Coverage Form: - CORRECT ANSWER Premises Operations Products Completed Operations Contractual Contingent Personal Injury Advertising Injury +Vicarious Liability Exposures covered by the CGL - Vicarious Liability - CORRECT ANSWER CGL will afford coverage to the named insured for vicarious liability imposed because of those who may be acting on behalf of the named insured....

CISR Agency Operations Exam 82 Questions with Answers Four benefits of ethical behavior -CORRECT ANSWER a. To be recognized as knowledgeable insurance professionals within the community b. To gain public trust and confidence c. To avoid government regulation d. To enhance credibility with customers and companies Misrating & Misclassification - CORRECT ANSWER Risk misrated to write coverage - Insurer doesn't receive enough premium; Insurer not able to pay losses Common ethical iss...

CISR Commercial Casualty I Lesson 3 S Exam 56 Questions with Answers 3 Main Coverage Parts in the CGL Coverage Form, each with its own insuring agreement and exclusions. - CORRECT ANSWER 1. Coverage A, 2. Coverage B, 3. Coverage C Coverage A in the CGL - CORRECT ANSWER Bodily Injury and Property Damage LIABILITY - protection for injuries and damage arising out of insured's legal liability to others. Coverage B in the CGL - CORRECT ANSWER Personal and Advertising Injury LIABILITY ...

CISR - Elements of Risk Management CH 1 Exam 56 Questions with Answer Risk - CORRECT ANSWER condition of either positive or negative uncertainty arising from a given set of cirumstances pure risk - CORRECT ANSWER chance of loss or no loss speculative risk - CORRECT ANSWER chance of loss, no loss, or gain loss - CORRECT ANSWER reduction in asset value exposure - CORRECT ANSWER situation, practice or condition that MAY lead to a loss peril - CORRECT ANSWER cause of loss ...

CISR Agency Operations Exam 265 Questions with Answers Professional - CORRECT ANSWER an adjective used to describe appearance, attitude, or actions Acting Ethically and Professionally - CORRECT ANSWER you put the needs of your clients above your own Ethics - CORRECT ANSWER a system or set of moral principles or practice a set of rules or standards based on a set of principles or values we accept as truths and that govern our behavior Factors that influence ethics - CORRECT ANSWER Fr...

CISR Risk Management Exam 137 Questions with Answers TCOR - CORRECT ANSWER Total Cost of Risk Risk Management - CORRECT ANSWER the process of managing uncertainty of exposures that affect an organizations assets 5 steps of risk management process - CORRECT ANSWER Identification, analysis, control, financing and administration Six general classes of risk - CORRECT ANSWER 1. Economic 2. Legal 3. Political 4. Social 5. Physical 6. Juridical Four Logical Classifications of Expo...

Commercial Casualty II – CISR Exam 121 Questions with Answers In BAP what does liability section provide protection from claims for? - CORRECT ANSWER Bodily Injury and Property Damage for which insured is legally responsible for. In BAP physical damage section what type of protection? - CORRECT ANSWER provides coverage for damage to or loss of an insured's covered auto. What other BAP coverages can be added by endorsement? - CORRECT ANSWER Medical payments personal injury protecti...