Nevada property casualty - Study guides, Class notes & Summaries

Abandonment Condition states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. Absolute Liability Imposed by law on those participating in certain activities that are considered especially hazardous; a person involved in such matters may be considered liable even if they weren't negligent. Accident A loss that occurs at a specific time and place Accounts receivable insurance Filed commercial inland marine from that insur...

A unique feature in a bailee form is that it covers A. A loss that has no exclusions B. The building occupied by the insured whether it is owned or leased C. Customers property whether or not the insured has been negligent D. Fire and theft losses to the insured stock held for sale without any deductibles. - C What is a certificate of insurance A. Written document allowing the insured to inspect the insured's books B. A written document showing to types and amounts of insurance that have...

risk Uncertainty of loss insurance the transfer of RISK pure risk lose or have no change - insurable speculative risk NOT insurable. possibility to lose or gain hazard something that increases risk indemnity a payment for damage or loss; purpose is to restore the insured to where they were prior to their loss. tort A civil wrong representation a substantial truth, true to the best of knowledge concealment OMISSION of a material fact

A insurance binder is effective for no more than - 90 Days Mr. Underwood gave his agent a down payment for the purchase of a business insurance policy. The insurance company issued a policy that promises to pay Mr. Underwood under terms and conditions stated in the policy. What specific term is used to refer to Mr. Underwood's payment and the insurance company's promise to pay? - Consideration Which of the following structures is not eligible for flood insurance? A. Anita's mobile home ...

A insurance binder is effective for no more than 90 Days Mr. Underwood gave his agent a down payment for the purchase of a business insurance policy. The insurance company issued a policy that promises to pay Mr. Underwood under terms and conditions stated in the policy. What specific term is used to refer to Mr. Underwood's payment and the insurance company's promise to pay? Consideration Which of the following structures is not eligible for flood insurance? A. Anita's mobile home ...

A unique feature in a bailee form is that it covers A. A loss that has no exclusions B. The building occupied by the insured whether it is owned or leased C. Customers property whether or not the insured has been negligent D. Fire and theft losses to the insured stock held for sale without any deductibles. C What is a certificate of insurance A. Written document allowing the insured to inspect the insured's books B. A written document showing to types and amounts of insurance that have...

A insurance binder is effective for no more than - 90 Days Mr. Underwood gave his agent a down payment for the purchase of a business insurance policy. The insurance company issued a policy that promises to pay Mr. Underwood under terms and conditions stated in the policy. What specific term is used to refer to Mr. Underwood's payment and the insurance company's promise to pay? - Consideration Which of the following structures is not eligible for flood insurance? A. Anita's mobile home ...

A unique feature in a bailee form is that it covers A. A loss that has no exclusions B. The building occupied by the insured whether it is owned or leased C. Customers property whether or not the insured has been negligent D. Fire and theft losses to the insured stock held for sale without any deductibles. - C What is a certificate of insurance A. Written document allowing the insured to inspect the insured's books B. A written document showing to types and amounts of insurance that have...