What is nfip - 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 ...

Which of the following statements is NOT TRUE regarding the "Extended Period of Indemnity" option of the Business Income form? - ANSWER-The coverage applies for 120 days following the period of restoration When a Hawaii employee sustains an injury requiring medical treatment beyond first aid, how long does the employer have to report the accident to the Director of Labor and Industry relations? - ANSWER-7 working days After paying a claim an insurance company may have the right to pursue l...

ANFI 205 Sample Exam with complete solutions One purpose of the National Flood Insurance Act of 1968 is to encourage state and local governments to - ️️ Wisely use the lands by considering the hazards of flood. What is the initial phase of a community's participation in the National Flood Insurance Program (NFIP) called? - ️️ Emergency Program Increased Cost of Compliance (ICC) coverage is mandatory for all Standard Flood Insurance Policies with four exceptions. One of these ex...

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...

FLOOD INSURANCE QUESTIONS AND ANSWERS 2023 WHAT ARE THE TWO TYPES OF FLOOD INSURANCE? NFIP PROVIDES AN EMERGENCY PROGRAM AND REGULAR PROGRAM HOW WAS THE NFIP CREATED? BY THE PASSAGE OF THE NATIONAL FLOOD INSURANCE ACT OF 1968 CAN YOU OBTAIN FLOOD INSURANCE THROUGH PRIVATE INSURERS? YES UNDER THE "WRITE YOUR OWN" PROGRAM AND THEY ARE 100% REIMBURSED BY THE GOVERNMENT WHAT IS REQUIRED BY COMMUNITIES TO OBTAIN NAT'L FLOOD INSURANCE? THEY MUST BE WILLING TO ADOPT FLOOD C...

NJ Property/ Casualty Insurance Exam Set Questions and Answers Already Passed Why was the commercial Insurance Deregulation Act Created? 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? Commercial policies When must rate amendments & policy forms be filed with the commissioner? 30 days before What losses are e...

NJ Property/ Casualty Insurance Exam Set With 100% Correct Answers 2023. Why was the commercial Insurance Deregulation Act Created? 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? Commercial policies When must rate amendments & policy forms be filed with the commissioner? 30 days before What losses are excluded from f...

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...

Why was the commercial Insurance Deregulation Act Created? 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? Commercial policies When must rate amendments & policy forms be filed with the commissioner? 30 days before What losses are excluded from flood insurance? -Landslides -Sewer backup -Windblown Rain -S...

Virginia Property and Casualty Exam (Latest 2024/ 2025 Update) Practice Questions and Verified Answers| 100% Correct| Grade A Q: If information on consumer reports differs from an applicant's statements and causes the insurer to reject the application, the insurer has made a/an: A. Adverse underwriting decision B. Unfair decision C. Unfair discriminatory decision D. Negative underwriting decision Answer: A. Adverse underwriting decision Q: Identify a federal law that...