Nfip an agreement - Study guides, Class notes & Summaries

Louisiana Property and Casualty Exam Questions and Answers Already Passed Should 2 or more insurers issue a combined Standard Fire Policy insuring a single risk, in the event of a loss, the insured must notify Any of the insurers providing coverage. The policy conditions define How parties to the contract must act following a loss. Because an insurance policy is a legal contract, it must conform to the state laws governing contracts which require all of the following elements EXCEPT ...

TEST FOR ADJUSTER PRO, FLORIDA STUDY(QUESTIONS AND ANSWERS)A+ GRADED EXAM 2023-2024 - CORRECT ANSWER-Subtract the deductible from covered damages to get indemnification - CORRECT ANSWER-6 unique characteristics of insurance policy 1 Contracts of adhesion (court ez win) 2 Utmost good faith 3 aleatory 4 personal 5 Unilateral (only insurer has obligation) 6 Conditional - CORRECT ANSWER-1945 regulate insurance Naic doesn't give benefits to comissioners 90 day to pay hijacking on...

Indirect Loss - Answer- A secondary loss that follows from a direct loss to insured property from a covered peril. Ex. Hotel expenses incurred by the insured while a fire-damaged home is repaired is an indirect loss that follows the direct loss of the home. Exclusive Agency System - Answer- An insurance distribution system in which producers (agents) represent a single company. Ex. In the exclusive agency system, insurers use independent contractors (exclusive agents) that represent only on...

Florida 6-20 All Lines Adjuster Test| 276 questions| 50 Pages| With Complete Solutions Florida 6-20 All Lines Adjuster Test| 276 questions| 50 Pages| With Complete Solutions A public adjuster represents the interest of: A. The insurer B. The Insured C. The employer D. The interest of the general public - Correct Answer -B. The insured Which of the following is the type of report that indicates the initial results of a claim investigation? A. Field Report B. Interim Report C. Full Re...

CFM Exam questions and answers 100% verified. Shallow flooding problems fall into (3) categories - correct answer. Sheet flow, ponding, urban drainage, coastal flooding (depths 1-3 feet) Describe areas where ponding may be a problem - correct answer. Glaciated areas, caves and sinkholes, man-made features What are (5) Special Flood Hazards - correct answer. Closed basin lakes, uncertain flow paths, dam breaks, ice jams, mud flows Alluvial fan flooding is what typ...

1 FLORIDA PUBLIC ADJUSTER STATE TEST QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED/ Florida No-Fault Tort Exemption - -Those who comply with the law are granted limited immunity from suits of others through PIP coverage. 4 Exceptions to Tort Exemption(Threshold of No-Fault) - -1. Significant and Permanent loss of bodily function. 2.Permanent injury other than scarring and disfigurement. 3.Significant and Permanent scarring or disfigurement. 4.Death What does NFIP stand for? - -National ...

What year did the US Congress pass the National Flood Insurance Act? - Answer 1968 What did the National Flood Insurance Act create? - Answer National Flood Insurance Program What is NFIP? - Answer National Flood Insurance Program What is the acronym for the National Flood Insurance Program? - Answer NFIP The National Flood Insurance Program was created to do these two things? - Answer 1) reduce future flood losses theough local floodplain management, and 2) provide pr...

As an inducement to insurance, giving any special discount, reduction of premium, special favor, or other valuable consideration is called? - Rebating If the state's minimum auto liability limits are 25/50/25, a driver with the limits of 10/20/10 is considered to be an: - Uninsured Motorist The insurer's promise to pay benefits according to the terms of the policy is found in what part of an insurance agreement? - Insuring Agreement Unendorsed homeowners policy will cover? - A Private ...

Alabama Property and Casualty Insurance Questions and Answers Graded A 2 reasons - No Flood Catastophic, adverse selection Watercraft Policy Open cockpit, 26 feet or less in length Absolute Liabilty Strong Liklihood of harming others Intervening Cause Disruption in chain of events Negligence LBPD - Legal Duty Owed, Breach of Legal Duty, Proximate Cause, and Damages. 25 mph What is the maximum horesepower a boat can have and be covered under a H.O. Policy Personal Liability Coverage Single ...

NJ P&C Insurance Exam Questions And Answers Graded A+ 2024. A flood damages a single-family dwelling that is in a community in the early stages of participation in the NFIP, but they are not yet considered participating. What is the maximum a resident may receive for damages to their personal property? - correct answer. $10,000 Under the Dwelling Broad Form, losses to an unattached garage are paid on which basis? - correct answer. Replacement Cost Which of the foll...