Subrogation - Study guides, Class notes & Summaries

State Farm Property xam | Questions and Answers Graded A+ Latest 2024/2025 control of property - CORRECT ANSWER protects against negligent acts of noninsureds other insurance - CORRECT ANSWER concerns property that is insured by more than one policy legal action against an insurer - CORRECT ANSWER says when an insured my sue the insurer subrogation - CORRECT ANSWER insurer can sue third parties for damages to the insured liberalization - CORRECT ANSWER when an insurer increases its...

State Farm Property xam | Questions and Answers Graded A+ Latest 2024/2025 control of property - CORRECT ANSWER protects against negligent acts of noninsureds other insurance - CORRECT ANSWER concerns property that is insured by more than one policy legal action against an insurer - CORRECT ANSWER says when an insured my sue the insurer subrogation - CORRECT ANSWER insurer can sue third parties for damages to the insured liberalization - CORRECT ANSWER when an insurer increases its...

alifornia property and casualty exam questions and answers graded A The process where by a mutul insurer becomes a stock company is called Demutalization The process whereby a stock company a mutal insurer is called Mutalization The provision in a property policy which states that the insured has been paid up to their insurable interest is Valuation clause The part of the policy that states the amout of coverage the insured property policy period is Declaration Part of the policy that establ...

Insurance Level 1 Alberta Exam Questions And Corrected Answers <100% Pass!!> The philosophy behind insurance is to a) provide a vehicle through which wealthy individuals and corporations may protect their property against catastrophic loss b)allow insurers to grow larger and more stable, thus creating jobs and supporting the economy c) spread the losses of the few amongst the premiums of the many d) spread the losses of the many amongst the premiums of the few - ANSWER : ...

What is the definition of a risk that is insurable? a.Risk is defined as a chance or the possibility of financial loss; only pure risks are insurable as there is no possibility of a gain b.A chance of a loss or gain c.A risk where there is a possibility of a gain d.A chance for insurance coverage - a What is an insurance policy? a.A binder that offers initial insurance coverage b.An oral agreement related to insurance c.A temporary agreement for insurance coverage d.A written agreement ...

LEGL 2700 Final Exam UGA (Hackleman) Questions and Answers | Latest Version | 2024/2025 | Graded A+ What is specific performance as a remedy? Specific performance is a court order requiring a party to fulfill the terms of a contract rather than paying damages. What does subrogation mean in insurance law? Subrogation allows an insurer to pursue a third party responsible for causing a loss after compensating the insured. What is due process in administrative law? Due process i...

Subrogation correct answers One insurance company sues another to recover cost to repair insured's car Release correct answers Two insurance companies agreed or insured agrees ACV correct answers Actual Cash Value, cost new less depreciation Arbitration correct answers Only way in insurance policy to dispute claim amount. Two appraisers agree or go to umpire LQK correct answers Like, Kind, Quality Solenoid correct answers Located between battery and starter motor Exhaust corre...

Which of the following would NOT be found in the conditions section of a homeowners insurance policy? Subrogation rights Duties of the insured Insurance premium Mortgagee clauseAnswer - The insurance premium is not shown in the conditions section of the homeowner policy. Which of the following is true regarding dealers physical damage coverage under a garage policy? It is a blanket limit for covered autos. It extends coverage to customers' autos. It is an annual maximum limit...

What are the reasons for investigating fires? - Correct Answer-To eliminate reoccurrence Upgrade existing fire codes Determine if a criminal act took place What is NFPA 921 - Correct Answer-Guide for Fire and Explosion Investigations What is NFPA 1033 - Correct Answer-Standards for Professional Qualifications for Fire Investigation What is NIST? - Correct Answer-National Institute of Standards and Technology What is CCAI? - Correct Answer-California Conference of Arson Investigator...

Which of the following conditions of a property policy describes the procedure for an insured to use in a disagreement with the insurer about the amount of a loss? A. Pro-rata liability B. Subrogation C. Audit D. Appraisal - Answer D. Appraisa