4 optional coverages - Study guides, Class notes & Summaries

Florida No-Fault Tort Exemption - Those who comply with the law are granted limited immunity from suits of others through PIP coverage. 4 Exceptions to Tort Exemption(Threshold of No-Fault) – 1. Significant and Permanent loss of bodily function. 2.Permanent injury other than scarring and disfigurement. 3.Significant and Permanent scarring or disfigurement. 4.Death What does NFIP stand for? - National Flood Insurance Program Form SR-22 - Drivers Convicted of DUI or a traffic felony over the p...

deductible A set amount that the holder of an insurance policy must pay for each loss before the insurance company pays out. liability insurance 2 types of liability occur from owning and operating a car, BODILY INJURY: driver or car owner is held legally responsible for INJURIES suffered by another person PROPERTY DAMAGE: driver or car owner is held legally responsible for damaging anothers property Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:0...

IDAHO PROPERTY AND CASUALTY EXAM PREP 2023/2024 GRADED A+. 1. Which of the following statements is false with respect to requirements for rates? A) Rates may not be inadequate B) A purpose of the rate regulation is to diminish competition between insurers C) Rates may not be unfairly discriminatory D) A purpose of the rate regulation is to regulate cooperative action among insurers: B 2. The Businessowners Coverage Form to the Businessowners Policy provides coverage on which of the following bas...

CIC COMMERCIAL PROPERTY EXAM PREP QUESTIONS AND ANSWERS Business Income Coinsurance formula - Answer-Amount required = (Net Income + Operating expense) x Coinsurance Amount carried = Limit of insurance Carried/ Required = Recovery *This is opposite of property coinsurance did/ should. For BI it is should/did Determine how losses are settled under Agreed value - Answer-1) No coinsurance 2) Requires Business Income Reporting worksheets every 12 months Six Additional Coverages - ...

FL Personal Lines Agent 2044 Exam Questions With Answers warranty - ANS Agreement between insured and insurer that certain conditions will be met Vicarious Liability - ANS Legal responsibility placed on one person for the acts of another. Vacant - ANS The absence of both people and property from the premises. Unscheduled Coverage/ Blanket Insurance - ANS A single coverage amount that applies generally to personal property. UM - ANS Pays insured if the at fault...

Florida Public Adjuster State Test Exam Questions And Answers 100% Verified Florida No-Fault Tort Exemption - answerThose who comply with the law are granted limited immunity from suits of others through PIP coverage. 4 Exceptions to Tort Exemption(Threshold of No-Fault) - answer1. Significant and Permanent loss of bodily function. 2.Permanent injury other than scarring and disfigurement. 3.Significant and Permanent scarring or disfigurement. 4.Death What does NFIP stand for? - answerNa...

Florida No-Fault Tort Exemption - Those who comply with the law are granted limited immunity from suits of others through PIP coverage. 4 Exceptions to Tort Exemption(Threshold of No-Fault) – 1. Significant and Permanent loss of bodily function. 2.Permanent injury other than scarring and disfigurement. 3.Significant and Permanent scarring or disfigurement. 4.Death What does NFIP stand for? - National Flood Insurance Program Form SR-22 - Drivers Convicted of DUI or a traffic felony over...

CIC Commercial Multi-line Exam Prep Questions Answers Distinguish between Covered Property and Property Not Covered under the Businessowners Coverage Form. - Answer ️️ Covered: Buildings: Includes PP of landlord (common areas, furnished) Covers Bridges, Retaining Walls, Wharves, Docks Replacement Cost BPP: Includes Property of Others (in CCC) Exterior Building Glass Replacement Cost Not Covered: Money/Securities Fences, radios, antennas, towers, signs (detached) plants Install...

An insured is sued under a CGL policy. The legal costs are $25,000, prejudgment interest is $9,000 and the judgment against the insured is $300,000. The insured has a $300,0000 CGL occurrence limit on the policy. How much will the insurer pay? ANS- $334,000 What is the order for claim payments if all of the following applied: Medical Payment, Workers' Compensation, Personal Injury Protection? ANS- WC, PIP, MP All of the following are penalties under the Florida No-Fault Law: ANS- Drivers L...

Commercial Package Policy (CPP) 1-1 Policy that covers two or more lines of business by combining ISO's commercial lines coverage parts Businessowners Policy (BOP) 1-2 A package policy that combines most of the property and liability coverages needed by small and medium-sized businesses Output Policy 1-3 A policy that combines, in one form and associated endorsements, all or most of the commercial property coverages that the insured organization needs, and uses a flexible rating pl...