What is insurer - Study guides, Class notes & Summaries

Danforth Grocery Store specializes in fresh produce and is open 24 hours year-round. The store has contracts with suppliers to deliver produce and foods by 5am daily, so the parking area at the rear of the store is congested from 4:30am to 5:30am. Customer traffic is heaviest from 7am to 9am, and again from 3pm to 6pm. The store has had six slip and fall claims from customers in the past year. Danforth Grocery Store is most exposed to which one of the following types of liability loss? ...

RRLLB81 ASSIGNMENT 02 SEMESTER 02 ANSWERS DUE 26 SEPTEMBER 2024 MERCANTILE LAW TOPIC 1: INSURANCE LAW LIABILITY INSURANCE IN SOUTH AFRICAN LAW AS A COMPLEX FORM OF INDEMNITY INSURANCE Background There are several classifications of insurance; the most common is the distinction between indemnity insurance (also referred to as non-life insurance) and non-indemnity insurance (also referred to as life insurance). With indemnity insurance, the insurer indemnifies the insured for loss or da...

South Carolina Insurance Exam Questions and Answers Already Passed An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? Inflation protection Which of these riders will pay a death benefit if the insured's spouse dies? Family term insurance rider Disability income plans which require that the insurer can NEVER change or alter premium rates are usually considered Nonconcellable What is the required action to be taken by a...

A building had been vacant for 60 days, and the insurer didn't know about it, when it sustained 100K, 5K, and 1K losses due to windstorm, theft, and sprinkler leakage, respectively. What amount is covered under CPP? - 85K, 0, and 0. If a building is vacant for 60 or more consecutive days before the loss, they won't pay for any loss caused by vandalism, sprinkler leakage, building glass breakage, water damage, theft, or attempted theft... otherwise you'll only get 85% Various building de...

Mississippi Insurance Test Questions and Answers 100% Pass The Commissioner of Insurance in Mississippi is elected to office for a term of 4 years The burden of proof for determining that a producer is representing an authorized insurer falls on The producer The fine the Commissioner may levy for violating any provision of the Insurance Code is $1000 A foreign insurer An insurer formed under the laws of any state other than Mississippi would be known as Each of the following...

CIC Commercial Multiline Exam Identify and describe the three primary purposes of excess liability/umbrella policies (LO1) - ANSWER 1. Provide additional limits that are excess over underlying limits of insurance 2. Provide primary coverage when underlying poliy does not respond beacuse its aggregate limits of insruance are exhausted. 3. Provide broader coverage than the exsiting underlying insurance excess liability coverage forms and commercial umbrella liability policy - ANSWER 1...

Which of the following describes a participating life insurance policy? A participating life policy is one in which the policyowner receives dividends deriving from the company's divisible surplus What type of reinsurance contract between two insurers involves an automatic sharing of the risks assumed? Under treaty reinsurance, each party automatically accepts specific percentages of the insurer's business. At what point must a life insurance applicant be informed of their rights that fa...

CPCU 551 Exam Questions Compilation A building had been vacant for 60 days, and the insurer didn't know about it, when it sustained 100K, 5K, and 1K losses due to windstorm, theft, and sprinkler leakage, respectively. What amount is covered under CPP? - 85K, 0, and 0. If a building is vacant for 60 or more consecutive days before the loss, they won't pay for any loss caused by vandalism, sprinkler leakage, building glass breakage, water damage, theft, or attempted theft... otherwise you...

Kentucky Health Insurance Exam | Study Questions and Verified Answers| 100 % Correct| Grade A (New 2024/ 2025 Update) QUESTION Individuals who itemize deductions can claim deductions for medical expenses not covered by health insurance that exceed what percent of their adjusted gross income? A. 5% B. 7% C. 10% D. 15% Answer: C. 10% QUESTION What is another name for an Administrative Services only arrangement? A. Self funding B. Third party administrator C. A modifie...

in Massachusetts, a small employer is comprised of 1-50 employees Kate received a group accident and health termination notice. How many days does she have to apply for a converted policy? 31 Scott has a life insurance policy in which the dividends are left with the insurance company. This particular policy may be paid up when the cash value plus accumulated dividends equal the net single premium for the same face amount at the insured's attained age What is the excise tax rate the IRS im...