What are covered losses - Study guides, Class notes & Summaries

Certain conditions, such as dismemberment or total and permanent blinds, will automatically qualify the insured for full disability benefits. Which disability policy provision does this describe? - presumptive disability Which provision concerns the insured's duty to provide the insurer with reasonable notice in the event of a loss? - notice of claim Because an insurance policy is a legal contract, it must conform to the state laws governing contracts which require all of the following el...

Xcel Solutions Property & Casualty Exam Questions and Answers An earned premium resulting from the cancellation of a policy is calculated on: - Correct Answer ️️ -On a pro rata basis, based on the previous year's rate M owns a parking garage & has coverage that states: "We will cover losses regardless if you are legally liable for the loss." This no-fault ideology will be found under: - Correct Answer ️️ -Excess Direct Coverage An insurance company writing business in a state o...

A savings vehicle designed to first accumulate funds and then systematically liquidates the funds is called a(n) - Deferred Annuity Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5 years, Cindy dies. How many remaining payments will the insurer make to her beneficiary? - 60 Payments What distinguishes a deferred annuity from an immediate annuity? - The time at which benefit payments start The systematic liquidation of a sum of money...

CIPP/E Exam Questions and Answers 100% Pass Outliers work on their website to company x, employee of Company X steals the data -delete it - tells boss. Q: What is company x legally obliged to do? A: NotifyOutliers Outliers work on their website to company x, employee of Company X steals the data -delete it - tells boss. Q: What does Outliers then need to do? A: Nothingas data was deleted Outliers work on their website to company x, employee of Company X steals the data -delete it - tells boss...

PRIMERICA LIFE INSURANCE EXAM WITH 100% CORRECT ANSWERS 2025 An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock - Correct answer-A. mutual funds not paid out after paying claims and other operating costs are re...

NEW YORK INDEPENDENT FIRE ADJUSTER EXAM SIMULATOR - SERIES 17-64 RATED A+ Mason has suffered a $42,000 loss to his commercial building due to fire. The building is covered under the Building & Personal Property coverage form and had been vacant for 74 days. The insurer would have paid the entire loss if the building had been occupied, but what will they pay because the insured building was considered vacant? $28,980. $42,000. $6,300. $35,700. For a loss that would otherwise be covered for th...

Insurance Customer Service Rep 440 Exam Review questions and answers graded A+. Examples of Peril - correct answers.Fire, lightning, explosion, theft, windstorm, hail, earthquake, flood, mischief or vandalism, or the sinking, burning, collision or derailment of a conveying transport. How long does one have to notify the Department of Financial Services for a Name and/or Address Change? - correct answers.30 days Coinsurance Clause - correct answers.Replacement cost appl...

How can Insurance companies can afford to pay for an individual's catastrophic loss? Correct Answer The premiums from all policyholders are pooled together. What information is found on the Declarations page? Correct Answer contains the make and model of the covered vehicle described Steven was denied coverage, a jury decieded in his favor. Why are insurance policies considered "Contracts of Adhesion"? Correct Answer Policy language is open to legal interpretation. Susan is a Doctor,...

Xcel Testing Solutions Life and Health Insurance 215 Questions & Answers 2023/2024 The focus of major medical insurance is providing coverage for - ANSWER-medical and hospitalization expenses An insured under a Major Medical expense plan with a zero deductible and 80/20 coinsurance provision files a $1,000 claim. How much of this claim is the insured responsible for? - ANSWER-$200 because this policy has a zero deductible, the insures is only responsible for the 20% coinsurance on this ...

NEW YORK INDEPENDENT FIRE ADJUSTER EXAM SIMULATOR - SERIES 17-64 Mason has suffered a $42,000 loss to his commercial building due to fire. The building is covered under the Building & Personal Property coverage form and had been vacant for 74 days. The insurer would have paid the entire loss if the building had been occupied, but what will they pay because the insured building was considered vacant? $28,980. $42,000. $6,300. $35,700. - ANS For a loss that would otherwise be covered f...