Fortuitous loss - Study guides, Class notes & Summaries

PA Property and Casualty Insurance Exam with Complete Solutions Property you can possess/ physically touch BI bodily injury PD Property damage Liability/casualty what you pay the other guy personal lines insurance cover needs of individual or family (auto,boat,camper,rv) commercial lines insurance needs of a business direct loss example - house burns down indirect loss example - additional money you will have to spend to live somewhere else while house is being rebuilt....

AINS 21 Practice Exam | 502 Complete Questions and Answers Verified by Expert | Update 2024 From an insured's point of view, relative to the concept of agency, little distinction exists between the Select one: A. Insurance agent and the insurance department. B. Broker and the claimant C. Insurer and the insurance department. D. Insurance agent and the insurer From an insured's point of view, relative to the concept of agency, little distinction exists between the insurance agent and t...

when selecting a distribution channel, which one of the following is important consideration with regard to customer needs and characteristics Which of the following statements is correct regarding characteristics of ideally insurable loss exposures ideally, loss exposures should be spread across a large number of similar exposure units within the same period The type of insurance that provides periodic income payments to an insured who is unable to work because of sickness or injury is D...

Defining Property Insurance - ️️-Protection against loss/damage to property -First party insurance -Premium exchanged for protection -Fortuitous losses (sudden and accidental) -Insurable interest -Intangible product Real vs Personal Property - ️️R: buildings or land (can't be moved) P: office desk or machinery (can be transported) Promise that Property Insurance is based on - ️️-Insured promise to pay a premium -Insurers promise to protect and indemnify Five elemen...

Defining Property Insurance - ️️-Protection against loss/damage to property -First party insurance -Premium exchanged for protection -Fortuitous losses (sudden and accidental) -Insurable interest -Intangible product Real vs Personal Property - ️️R: buildings or land (can't be moved) P: office desk or machinery (can be transported) Promise that Property Insurance is based on - ️️-Insured promise to pay a premium -Insurers promise to protect and indemnify Five elemen...

RMIN Test 1 pt 2 Questions and Answers Already Passed All of the following are characteristics of insurance EXCEPT A) risk avoidance. B) pooling of losses. C) payment of fortuitous losses. D) indemnification. A) risk avoidance. Which of the following is implied by the pooling of losses? A) sharing of losses by an entire group B) inability to predict losses with any degree of accuracy C) substitution of actual loss for average loss D) increase of objective risk A) sharing of loss...

AINS 21 Practice Exam Questions and Answers Rated A+ when selecting a distribution channel, which one of the following is important consideration with regard to customer needs and characteristics Which of the following statements is correct regarding characteristics of ideally insurable loss exposures ideally, loss exposures should be spread across a large number of similar exposure units within the same period The type of insurance that provides periodic income payments to an in...

when selecting a distribution channel, which one of the following is important consideration with regard to customer needs and characteristics Which of the following statements is correct regarding characteristics of ideally insurable loss exposures - ideally, loss exposures should be spread across a large number of similar exposure units within the same period The type of insurance that provides periodic income payments to an insured who is unable to work because of sickness or injury is ...

C12 - Insurance on Property – Midterm Latest Update Graded A+ Defining Property Insurance -Protection against loss/damage to property -First party insurance -Premium exchanged for protection -Fortuitous losses (sudden and accidental) -Insurable interest -Intangible product Real vs Personal Property R: buildings or land (can't be moved) P: office desk or machinery (can be transported) Promise that Property Insurance is based on -Insured promise to pay a premium -Insurers p...

Property -correct answer you can possess/ physically touch BI -correct answer bodily injury PD -correct answer Property damage Liability/casualty -correct answer what you pay the other guy personal lines insurance -correct answer cover needs of individual or family (auto,boat,camper,rv) commercial lines insurance -correct answer needs of a business direct loss -correct answer example - house burns down indirect loss -correct answer example - additional money you will have to...