Rmin 4000 uga brown - Study guides, Class notes & Summaries

principle of indemnity - ANSWER-The insurer agrees to pay no more than the actual amount of the loss (prevent the insured from profiting from loss) replacement cost (RC) - ANSWER-the cost to replace property with an item of like kind and quality (similar workmanship and materials) (not the same as historical cost!) actual cash value (ACV) - ANSWER-- replacement cost - depreciation - in property insurance, indemnification is usually based on the actual cash value of the property at the tim...

RMIN 4000 UGA Brown Test 4 Exam Review-with 100% verified solutions

RMIN 4000 UGA Brown Test 4 Exam Review Solution fee-for-serive - ANS-a separate fee is paid for each service copayment - ANS-flat amount the insured must pay each time health services are received calendar year deductible - ANS-an aggregate deductible that has to be satisfied only once during the calendar year coinsurance - ANS-the percentage of the medical expenses the policyholder must pay in addition to the deductible amount Out-of-pocket maximum (stop-loss limit) - ANS-the most the ...

principle of indemnity - ANSWER-The insurer agrees to pay no more than the actual amount of the loss (prevent the insured from profiting from loss) replacement cost (RC) - ANSWER-the cost to replace property with an item of like kind and quality (similar workmanship and materials) (not the same as historical cost!) actual cash value (ACV) - ANSWER-- replacement cost - depreciation - in property insurance, indemnification is usually based on the actual cash value of the property at the tim...

RMIN 4000 UGA Brown Test 1 Ch 1-4 | Latest Version | Graded A+ How does risk sharing help reduce the financial impact of a loss? Risk sharing distributes potential losses among multiple parties, reducing the burden on any one individual or organization. What is the role of risk appetite in determining a company's risk management strategy? Risk appetite defines how much risk a company is willing to accept while pursuing its objectives, guiding its decisions on risk control and tra...

principle of indemnity - ANSWER-The insurer agrees to pay no more than the actual amount of the loss (prevent the insured from profiting from loss) replacement cost (RC) - ANSWER-the cost to replace property with an item of like kind and quality (similar workmanship and materials) (not the same as historical cost!) actual cash value (ACV) - ANSWER-- replacement cost - depreciation - in property insurance, indemnification is usually based on the actual cash value of the property at the tim...

RMIN 4000 UGA Brown Test 4

RMIN 4000 UGA Brown Test 4 Questions and Answfee-for-serive - ANSWER-a separate fee is paid for each service copayment - ANSWER-flat amount the insured must pay each time health services are received calendar year deductible - ANSWER-an aggregate deductible that has to be satisfied only once during the calendar year coinsurance - ANSWER-the percentage of the medical expenses the policyholder must pay in addition to the deductible amount Out-of-pocket maximum (stop-loss limit) - ANSWE...

fee-for-serive - ANSWER-a separate fee is paid for each service copayment - ANSWER-flat amount the insured must pay each time health services are received calendar year deductible - ANSWER-an aggregate deductible that has to be satisfied only once during the calendar year coinsurance - ANSWER-the percentage of the medical expenses the policyholder must pay in addition to the deductible amount Out-of-pocket maximum (stop-loss limit) - ANSWER-the most the insured will have to pay out-o...

RMIN 4000 Exam 2 - UGA Daniel Brown 2024 Solution Guide Graded A Private insurance industry Ans- US insurance industry employed 2.9m - closer to 3m now Insurers paid over $20 billion in premium taxes