What is indemnity - Study guides, Class notes & Summaries

RRLLB81 Assignment 3 FINAL PORTFOLIO (COMPLETE ANSWERS) Semester 2 2024 RESEACH TOPICS INCLUDED ; 100% TRUSTED Complete, trusted solutions and explanations. For assistance, Whats-App 0.6.7-1.7.1-1.7.3.9. Ensure your success with us... TOPIC 1: INSURANCE LAW LIABILITY INSURANCE IN SOUTH AFRICAN LAW AS A COMPLEX FORM OF INDEMNITY INSURANCE Background There are several classifications of insurance; the most common is the distinction between indemnity insurance (also referred to as non-life in...

This document contains workings, explanations and solutions to the RRLLB81 Assignment 3 (QUALITY ANSWERS) Semester 2 2024. For assistance whats-app us on 0.6.8..8.1.2..0.9.3.4... LIABILITY INSURANCE IN SOUTH AFRICAN LAW AS A COMPLEX FORM OF INDEMNITY INSURANCE Background There are several classifications of insurance; the most common is the distinction between indemnity insurance (also referred to as non-life insurance) and non-indemnity insurance (also referred to as life insurance). With ...

RRLLB81 ASSIGNMENT 02 SEMESTER 02 ANSWERS DUE 26 SEPTEMBER 2024 MERCANTILE LAW TOPIC 1: INSURANCE LAW LIABILITY INSURANCE IN SOUTH AFRICAN LAW AS A COMPLEX FORM OF INDEMNITY INSURANCE Background There are several classifications of insurance; the most common is the distinction between indemnity insurance (also referred to as non-life insurance) and non-indemnity insurance (also referred to as life insurance). With indemnity insurance, the insurer indemnifies the insured for loss or da...

CA Life Insurance Exam Questions and Answers 100% Pass What is meant by referring to an insurance policy as a unilateral contract? Only one party makes a legally enforceable promise. When must insurance records of insurance agents and brokers be made available to the Insurance Commissioner? At all times. Any situation that presents the possibility of a loss is known as a loss exposure Which of the following information is not required to be communicated in a Life insurance contract? Personal ...

ADJUSTERPRO FINAL EXAM 2024 LATEST QUESTIONS AND VERIFIED ANSWERS BY EXPERT 100% GUARANTEED PASS -+What is a reserve, in insurance terms? A pool of collected premiums that the insurer sets aside to pay claims Which of these scenarios is NOT an example of indemnification? When trying to renew her dog's license, Ellen has to pay a penalty to the city for letting its rabies vaccination lapse. Ellen having to pay a fine is not an example of indemnification. Indemnification means being restore...

NJ Life Producer Exam Questions and Answers Graded A+ Under a Traditional IRA, interest earned is taxed upon distribution Which of these statements regarding the annuitants is CORRECT? The annuitant's life expectancy determines the annuity payment What will the beneficiary receive is annuitant dies during the accumulation period? The greater the accumulated cash value or the total premium paid Which of the following actions is REQUIRED by an agent who is replacing an existing l...

MICHIGAN LIFE AND HEALTH FINAL EXAM / 80+ QUESTIONS AND CORRECT ANSWERS 2023/2024 / GRADED A+. Final Exam-Michigan Life and Health 1. What amount will be paid under a policy where the insured misstated his/her age?: an amount the premium would have purchased at the correct age 2. the acceptance of a credit life application requires the submission of a certificate of insurance to the insured within_____ days: 30 days 3. which of these is considered to be a Living benefit option in a lif...

What is it called when a life insurance policy pays a multiple of the coverage amount when certain types of accidents occur? - CORRECT ANSWER-multiple indemnity Upon the issuance of a conditional receipt for a renewal when the premium is paid AFTER the time granted by the insurer, what is the maximum amount of time for reinstatement of the policy? - CORRECT ANSWER-30 days Which of the following statements regarding a pure life annuity payout option is correct? - CORRECT ANSWER-This option...

LA Life, Health & Accident Insurance Series 103 Practice Exam Questions and Answers Already Passed Under which situation must insurable interest exist between the applicant and insured at the time of application? When a third-party applicant names themselves beneficiary. Which of the following is true about a decreasing term life policy? The face amount reaches zero at policy expiration. Which of the following occurs immediately after the application is submitted and the initial premium paid?...

What are 4 major loss exposures covered by CGL Form? LO1 1. Premises Liability (slip and fall due to water on the floor) 2. Operations Liability (Tree trimmer causes damage to power lines by removing fallen limbs) 3. Product Liability (ladder collapses when being used as intended) 4. Completed Operations A contractor installs a hot water heater and leaves the home, 2 days later, water overflows onto the floor causing damage because the hot water heater was improperly installed. ...

CIC Commercial Multiline Exam Identify and describe the three primary purposes of excess liability/umbrella policies (LO1) - ANSWER 1. Provide additional limits that are excess over underlying limits of insurance 2. Provide primary coverage when underlying poliy does not respond beacuse its aggregate limits of insruance are exhausted. 3. Provide broader coverage than the exsiting underlying insurance excess liability coverage forms and commercial umbrella liability policy - ANSWER 1...

Which of the following statements is not correct regarding qualifications for an adjuster's license? - An attorney who adjusts losses from time to time is considered an adjuster. An unauthorized insurance company may also be referred to as a - Surplus lines insurer Which of the following statements is not correct regarding surplus lines insurance? - The surplus lines insurance must be procured at a rate that is lower than the prevailing rate for the same type of coverage A surplus lines b...