Rmin 5100 - Study guides, Class notes & Summaries

Abandonment - - Insurance company may choose to take damaged property and pay insured the value - Insured CANNOT surrender damaged property to insurance company Active Retention - Identify the loss/risk exposure and really consider the risk itself and all the measures around it. (ex. Should we transfer it, retain it etc.) Admitted (standard or retail) Insurance companies - Regulated by the state, They often must subscribe to rating and form regulations of that state. Agent or Broker - "In...

categories of commercial loss exposures (4) - 1. property 2. personnel 3. liability 4. net income commercial property loss exposures - type of property causes of loss to property financial consequences of property losses commercial property coverage part types of property - real and personal real property - land & buildings, all property permanently attached to buildings, driveways, sidewalks, underground piping, etc, plumbing, wiring, HVAC personal property - all property that is not...

RMIN 5100 Exam 2 Atkinson Questions and Answers | Latest Version | 2025/2025 |Already Passed What is a coverage limitation in insurance? A coverage limitation is a restriction on the amount or type of coverage provided by an insurance policy, often capping the insurer’s liability. Why are exclusions included in an insurance policy? Exclusions are included to clarify what is not covered under the policy, helping to manage the insurer’s risk and prevent claims for uninsurable o...

RMIN 5100 UGA Test 1 | Latest Version | 2024/2025 | Already Passed How does risk management contribute to organizational resilience? By proactively identifying and addressing risks, risk management strengthens an organization’s ability to withstand and recover from disruptions. What is the main benefit of integrating risk management into daily operations? It ensures that risk considerations are embedded in all decision-making processes, enhancing overall effectiveness. How do...

RMIN 5100s EXAM 3 BROWN ALREADY PASSED!!

RMIN 5100S Test 2 Brown QUESTIONS AND VERIFIED CORRECT ANSWERS 1. categories of commercial loss exposures (4)√√correct answer√√ 1. property 2. personnel 3. liability 4. net income 2. commercial property loss exposures√√correct answer√√ type of property causes of loss to property financial consequences of property losses commercial property coverage part 3. types of property√√correct answer√√ real and personal 4. real property√√correct answer√√ l...

RMIN 5100S Test 1 Atkinson Questions and Answers 100% Pass Risk Manager - "insured" buyer of insurance - Larger companies will have one personal one - Small to mid-sized companies will have someone else who serves this role - Must evaluate risks and determine the best approach to manage risks -- including Loss Control, Retention and transfer techniques Agent or Broker "Intermediary" Facilitates the purchase of insurance. Advises insured. Negotiates with the insurer. Independ...

RMIN 5100 Exam 2 Atkinson Questions and Answers 100% Solved | Latest Update What are the three Commercial Property Loss Exposure components? - 1. Types of Property 2. Causes of Loss to property 3. Financial Consequences of property losses Examples of Real Property - land, buildings, driveways, side-walks, underground piping, and radio transmission towers Property that is permanently attached to a structure, such as built-inn appliances or paneling is often considered part of the buildi...

RMIN 5100S Exam 2 Questions and Answers 100% Solved 1. Types of property 2. Causes of loss to property 3. Financial consequences of property losses 3 considerations for commercial property loss exposures. 1. Real Property 2. Personal Property 2 types of property. Real Property Land & buildings, all property permanently attached to buildings, driveways, sidewalks, underground piping, etc, and plumbing, wiring, and HVAC. Personal Property All property that is not real property. 1. ...

RMIN 5100S- Test 2 Questions With Complete Solutions.