Nfip Study guides, Class notes & Summaries

NJ Property/ Casualty Insurance Exam Set With 100% Correct Answers 2023. Why was the commercial Insurance Deregulation Act Created? To protect the public from the adverse effects of excessive, inadequate, & unfair discriminatory rates & marketing practices Which policies issued must follow the provisions of the Commercial Insurance Deregulation Act? Commercial policies When must rate amendments & policy forms be filed with the commissioner? 30 days before What losses are excluded from f...

The three standard flood insurance policy coverage forms available are the: - Answer dwelling form general property form residential condominium building association policy (RCBAP) form Eligibility for coverage - Answer affected by a community's participation in the national flood insurance program and by the type and/or location of the building, structure, or contents to be insured. special flood hazard areas (SFHA) - Answer sometimes informally referred to as the floodplain, have a 1 ...

Which of the following correctly compares benefits and premiums of a flood insurance policy purchased directly from the National Flood Insurance Program (NFIP) and one purchased through a private insurer? CORRECT ANSWER Coverage and premiums are the same from either source. After a flood severely damaged Serena's home, floodplain management ordinances required her to reconstruct it at a higher elevation. Some or all of Serena's expenses to comply with these ordinances may be available from ...

cause more property damage in the United States than any other type of natural disaster. - Answer Floods created by the federal government to fill the gap left by the private insurance industry, and is administered by the Federal Insurance and Mitigation Administration (FIMA), a part of the Federal Emergency Management Agency (FEMA). - Answer National Flood Insurance Program (NFIP) National Flood Insurance Program (NFIP) consists of 3 main components: - Answer 1. Insurance ; 2. Floodplain...

National Flood Insurance Policy (NFIP) Quizzes & Ans 2023

NFIP Flood Insurance Exam Questions and Answers

makes federally-backed flood insurance available to homeowners, renters, and business owners - Answer National Flood Insurance Program (NFIP) Flood insurance can be purchased by either what two ways? - Answer 1. directly through the National Flood Insurance Program (NFIP) 2. from private insurers in a program referred to as "write your own" which is available through local producers (agents) the coverage and the premium are the same regardless of the method purchased True or False: dep...

Why was the commercial Insurance Deregulation Act Created? To protect the public from the adverse effects of excessive, inadequate, & unfair discriminatory rates & marketing practices Which policies issued must follow the provisions of the Commercial Insurance Deregulation Act? Commercial policies When must rate amendments & policy forms be filed with the commissioner? 30 days before What losses are excluded from flood insurance? -Landslides -Sewer backup -Windblown Rain -S...

NJ Property/ Casualty Insurance Exam Set With 100% Correct Answers 2023. Why was the commercial Insurance Deregulation Act Created? To protect the public from the adverse effects of excessive, inadequate, & unfair discriminatory rates & marketing practices Which policies issued must follow the provisions of the Commercial Insurance Deregulation Act? Commercial policies When must rate amendments & policy forms be filed with the commissioner? 30 days before What losses are excluded from...

NJ Property/ Casualty Insurance Exam Set With 100% Correct Answers 2023. Why was the commercial Insurance Deregulation Act Created? To protect the public from the adverse effects of excessive, inadequate, & unfair discriminatory rates & marketing practices Which policies issued must follow the provisions of the Commercial Insurance Deregulation Act? Commercial policies When must rate amendments & policy forms be filed with the commissioner? 30 days before What losses are excluded from...