Cpcu 553 study questions - Study guides, Class notes & Summaries

CPCU 553 Study Questions with Correct Answers Liability Loss Exposure - Answer-Any condition or situation that presents the possibility of a claim alleging legal responsibility of a person or business for injury or damage suffered by another party. Damages - Answer-Money claimed by, or a monetary award to, a party who has suffered bodily injury or property damage for which another party is legally responsible. Special Damages - Answer-A form of compensatory damages that awards a sum of ...

CPCU 553 Study Questions with Correct Answers Liability loss exposure - Answer-Any condition or situation that presents the possibility of a claim alleging legal responsibility of a person or business for injury or damage suffered by another party Damages - Answer-Money claimed by, or a monetary award to, a party who has suffered loss or injury for which another party is legally responsible Special damages - Answer-A form of compensatory damages that awards a sum of money for specific,...

CPCU 553 Study Questions with Correct Answers Liability Loss Exposure - Answer-Any condition or situation that presents the possibility of a claim alleging legal responsibility of a person or business for injury or damage suffered by another party. Damages - Answer-Money claimed by, or a monetary award to, a party who has suffered bodily injury or property damage for which another party is legally responsible. Special Damages - Answer-A form of compensatory damages that awards a sum of ...

What does the insuring agreement of coverage part D say? Insurer promises to pay for any direct and accidental loss to "your covered auto" or a "non-owned auto" as defined in the PAP, minus the deductible. Describe the two categories of direct and accidental losses to an auto. Collision losses and other than collision (OTC) losses. How is collision defined in the PAP and provide examples: 1. Collision is the upset of or impact of "your covered auto" or "non-owned auto" with another...

A policy issued by a mutual insurer describes each insured's right to vote in the election of the board of directors. This description is most likely found in the policy's Miscellaneous provisions are often unique to a particular type of insurer, such as a description of voting rights for a mutual insurer. All of the following are risk control techniques used by individuals and families, EXCEPT Retention Which one of the following statements regarding assets exposed to loss is true? Ligh...