Commercial casualty 1 - Study guides, Class notes & Summaries

Areas of regulation for Intermediaries - Q-ualifaction (must pass test) O-peration of business (must follow requirements) L- Icences - Must have license L- icence Renewal - Renewed annual The Categories of insurance: - 1) Social -Workers Compensation 2) Life and Health Life, accident and sickness, and disability. 3) General property/casualty insurance Personal Property Boiler and Machinery Automobile Commercial property Crime Business interruption Liability Aviation Marine Inla...

NEW HAMPSHIRE PROPERTY & CASUALTY QUIZ QUESTIONS WITH COMPLETE SOLUTIONS 100% What is true about controlled forms? - correct answer These forms are usually issued according to published rules and rates When will an insurance company pay damages on behalf of an insured under a CGL policy? - correct answer when the company determines that the insured is legally liable A loss reserving method that establishes aggregate reserves for all claims for a single type of insurance is known as - co...

CISR Commercial Casualty 1 (Latest 2024) Questions With Complete Grade A+ Answers

Types of Negligence duties owed, breach of that duty, damages and proximate cause Types of legal liability & how they can be created Torts, Statutory and Contractual Insured Contract: LEASE+ Lease of Premises, Easement/License Agreement, An obligation required by ordinance, Sidetrack agreement and Elevator Maintenance Liability Exposure (Main 4) 1. Premises 2. Products 3. Operations 4. Completed operations 2 types of compensatory damages 1. Special damages 2. General damages Exam...

NJ Property/ Casualty Insurance Exam Set with Complete Solutions Why was the commercial Insurance Deregulation Act Created? - ANSWER-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? - ANSWER-Commercial policies When must rate amendments & policy forms be filed with the commissioner? - ANSWER-30 days before What losses...

Accident An event or continuous or repeated exposure to the same conditions resulting in bodily injury or property damage. Auto A land motor vehicle; trailer or semi trailer designed for travel on public roads; or any other land vehicle that is subject to a compulsory or financial responsibility law or other motor vehicle insurance law where it is licensed or principally garaged. An auto does not include "mobile equipment". Bodily injury Injury, sickness, or death sustained by a person ...

Legal Liability - A responsibility or obligation to others, which courts recognize and enforce. In general failure to meet this duty often results in the imposition of monetary damages. 3 Types of Legal Liability - Tort Liability, Statutory Liability, Contractual Liability 4 Types of Tort Liability - Negligence, Intentional Torts, Strict Liability, Absolute Liability Name the four requirements of a negligent tort (long version) - 1. Duty owed by negligent party to another party, 2. Breach o...

CISR Commercial Casualty I Lesson 1 L(Legal Liability, CGL & Additional Insureds One of 9 CISR courses to obtain Elite Designation)2023