Subrogation - Study guides, Class notes & Summaries

What are the reasons for investigating fires? - Correct Answer-To eliminate reoccurrence Upgrade existing fire codes Determine if a criminal act took place What is NFPA 921 - Correct Answer-Guide for Fire and Explosion Investigations What is NFPA 1033 - Correct Answer-Standards for Professional Qualifications for Fire Investigation What is NIST? - Correct Answer-National Institute of Standards and Technology What is CCAI? - Correct Answer-California Conference of Arson Investigator...

Which of the following would NOT be found in the conditions section of a homeowners insurance policy? Subrogation rights Duties of the insured Insurance premium Mortgagee clauseAnswer - The insurance premium is not shown in the conditions section of the homeowner policy. Which of the following is true regarding dealers physical damage coverage under a garage policy? It is a blanket limit for covered autos. It extends coverage to customers' autos. It is an annual maximum limit...

What is the definition of a risk that is insurable? a.Risk is defined as a chance or the possibility of financial loss; only pure risks are insurable as there is no possibility of a gain b.A chance of a loss or gain c.A risk where there is a possibility of a gain d.A chance for insurance coverage - a What is an insurance policy? a.A binder that offers initial insurance coverage b.An oral agreement related to insurance c.A temporary agreement for insurance coverage d.A written agreement ...

Subrogation correct answers One insurance company sues another to recover cost to repair insured's car Release correct answers Two insurance companies agreed or insured agrees ACV correct answers Actual Cash Value, cost new less depreciation Arbitration correct answers Only way in insurance policy to dispute claim amount. Two appraisers agree or go to umpire LQK correct answers Like, Kind, Quality Solenoid correct answers Located between battery and starter motor Exhaust corre...

TX ADJUSTER TEST Subrogate Subrogation is the right for an insurer to legally pursue a third party that caused an insurance loss to the insured. This is done as a means of recovering the amount of the claim paid by the insurance carrier to the insured for the loss. While investigating a claim, you determine that the loss was caused by a defective mechanism in the dishwasher. You would attempt to_________________________? Appraisal What is the process when an insurer and an insured have...

duties of the insured - Answer 1. pay the premium 2. take all reasonable means to save and protect the property from loss 3. give the insurance company immediate notice of loss 4. give the insurance company proof of loss within 60 days of the loss 5. separate the damaged property from the undamaged property and allow the insurance company to inspect the undamaged property as well as the insured's books and records 6. the insured cannot sue the insurance company unless all of these requ...

Florida General Lines Agent Exam questions and answers graded A+ What is the definition of a risk that is insurable? a.Risk is defined as a chance or the possibility of financial loss; only pure risks are insurable as there is no possibility of a gain b.A chance of a loss or gain c.A risk where there is a possibility of a gain d.A chance for insurance coverage a What is an insurance policy? a.A binder that offers initial insurance coverage b.An oral agreement related to insurance c.A tem...

Which of the following conditions of a property policy describes the procedure for an insured to use in a disagreement with the insurer about the amount of a loss? A. Pro-rata liability B. Subrogation C. Audit D. Appraisal - Answer D. Appraisa

Which of the following would NOT be found in the conditions section of a homeowners insurance policy? Subrogation rights Duties of the insured Insurance premium Mortgagee clauseAnswer - The insurance premium is not shown in the conditions section of the homeowner policy. Which of the following is true regarding dealers physical damage coverage under a garage policy? It is a blanket limit for covered autos. It extends coverage to customers' autos. It is an annual maximum limit...

What are the reasons for investigating fires? - ANSWER To eliminate reoccurrence Upgrade existing fire codes Determine if a criminal act took place What is NFPA 921 - ANSWER Guide for Fire and Explosion Investigations What is NFPA 1033 - ANSWER Standards for Professional Qualifications for Fire Investigation What is NIST? - ANSWER National Institute of Standards and Technology What is CCAI? - ANSWER California Conference of Arson Investigators Subrogation - ANSWER The assumption...