FL 220 GL
Terms in this set (78)
Bond written for a set limit, and a surety will be liable only for this amount of the limit. The limit is know as
Which professional liability form provides form coverage for liability arising out of malpractice, error or mistakes made in rendering professional services.
Physicians, surgeons and dentist malpractice
Which following property would be covered u see a dwelling policy.
All of the following are considered parts of the policy structure EXCEPT
Which of the following is a property with a provision agreed upon by the insurer and insured as to the amount of insurance that represents a fair valuation for the property at the time the insurance is written and suspends and co-insurance or other contribution clauses in the policy.
He part of the insurance contract that describes the covered perils and the nature of coverage of the contractual agreement between the insurer and insured is called
All of the following are supplement payments included in the liability section of a personal auto policy EXCEPT
Up to $100 for the cost to secure the release of a vehicle from impoundment lot following a covered accident
Who is not insured for liability in a BAP
The owner of a car the insured borrows
If insured moving to new location his personal property coverage under the dwelling policy will apply on a pro data basis both locations for
Before an insurer will pay any loss under a policy what is usable required from the insured
Proof of loss
An insured a building has an acv of $200k and he insured the property for $120k and with an 80% coinsurance clause. A $40k loss occurs . How
Much will be paid out.
Transportation expenses are covered under personal auto policy for
$20 per day max $600
Elaborate homes and those with detailed design with RC greater than ACV or market value are insured on
Example of losses paid under HO3 would be paid under an HO2 homeowners policy
Damage to dwelling caused by ash or dust from a volcanic eruption
One advantage of claims made liability form the insurers point of view is that
It prevents stacking limits
Business of selling construction equipment and mobile equipment should insured with
Equipment dealers coverage form
Both the broad theft and limited theft endorsements on the dwelling program exclude all of the following types of property EXCEPT
Under the provisions of the business income coverage form, all of the following are true. Except
The insured is reimbursed for the loss from the fat and restoration or policy expiration date. Which ever comes first
Which of the following is a true statement regarding a special form dwelling policy.
Coverage A is for all risk perils and Coverage C is for the broad form peril.
Rental reimbursement is only Available if the policy includes which coverage.
Other Thea. Collision coverage
What type of compensation damages will pay for pain and suffering and disfigurement
The ABC Corp has $100k of coverage on its building through insurance company A and $50k of identical coverage on the same building through insurance company B. Assuming coinsurance is not an issue, when $24k loss occurs and the pro rated method is used how much will each insurer pay
Company A will pay $16k company B will pay 8k
The following is not consideration in a policy.
The application not give. To a prospective insured
Personal business property out in the open is covered under commercial property policy while
Within 100 ft of the described location.
Insurance policy is a legal contract it must conform to the state laws governing contracts which require all of the following elements EXCEPT
When insured makes a truthful statements on the application for insurance. E and pays the required premium it is known
Under the personal auto policy liability for bodily injury resulting from the insured side of no owned auto
Provided by the insured a policy on an excess basis
The designated symbols used in commercial auto policies can be found in
What do individuals use to transfer their risk of loss to a larger group
What type of liability would a person who owns a swimming pool have
All of the following statements concerning coinsurance are true EXCEPT
The coinsurance formula also will be applied to total losses
Toms truck service was stolen how much transportation expenses within following limits
$20 per day $600 max
Which of the following is a statement that is guaranteed to be true and if untrue may breach an insurance contract
Business owners policy section 1 if the insurer wants to non renew how many days before the expiration date must insurer notify
Coverage territory of business owners policy includes all of the following EXCEPT
The claims made trigger is based on
The date the claim is first made in writing against an insured for injury or damage that occurred on or after the policy's retro date
Which law is the foundation of the statistical prediction of loss upon which rates for insurance calculations
Law of large numbers
Limit of forgery on a BOP
Dwelling policy forms that are ACV
Coverages in dwelling and homeowners policies is the indirect losses
Loss of use
The type of company to organize to return and surplus money to their policyholders
Which of the following entities are responsible for making premium payments
The FJUA has how many sub plans
Major medical plans cover medical expenses both in and out of the hospital and have high max limits. What is therm used
In what area is coverage available through the citizens property insurance
What is reinsurance
An agreement between a ceding insurer and assuming insurer
What is the goal of HMO
Early detection through regular check ups
Doctor considered to be employee of a HMO
During a sales presentation a producer intentionally makes a statement which may mislead the insurance application
License agent must complete how
Many hours of CE hours in every lic period
A policy conflicts with the state statues.
The provisions may or may not be altered to conform to the statutes
Which of the aviation insurance e coverages can be written to exclude coverage for losses arising from crashes or collisions.
Which of the following would be an example of an unfair claims settlement practice
Failing to acknowledge a claim within 30 days
What is the benefit of experience rating
Helps employed with low claims experience because they get lower premiums
In accordance with the code of ethics agents must provide. Complete application
The prospective insured and the insurer
Sally has heart disease in his family so he would like to buy health insurance policy that Strictly covers heart disease
Death benefit owed from the insurance company is called.
Insurance company canceling your policy which component of the policy would tell you what to do in the situation.
Talking about another insurance agency in a negative manor
Convince your neighbor to cancel his homeowners insurance policy he already has and allows you to write the policy for higher premium but same coverage.
Offering something of value for business
Turn heat on in business. But the sprinkler system has frozen. Before the pipes thaw a fire breaks out causes $40k in damages. What endorsement insures that your business owners policy pays for the damage.
You own a butcher shop and a hurricane hits you lose power in your store and all the meat in the meat lockers are reuined now. What special endorsement would cover this.
Utility services direct damages
Utility services direct damage
Coverage for damage from utility service
Utility services time element
Loss of income or extra expenses
Leave your car at an auto repair shop to repair the transmission. That night lightning strikes the shop and the building burns to the ground. On the garage keepers form which option do you need to be covered.
Direct excess and direct primary coverage
Transporting wine from CA to VA. What kind of coverage do you need.
Business auto coverage or motor auto coverage
You go to leave your house one morning and you realize someone stole your car. Which cause of loss would this fall under and why.
Comprehensive and specified
My company makes a claim that a baseball player is using steroids. Come to find out he is not. He turns around and sues us. What is he during for ? What kind of CGL policy would we need to settle with.
2. personal and advertising liability.
Hire a company to put a deck and covered patio in. I'm during the company because some fell when a railing came lose. What kind of CGL coverage would I need in the case?
Completed operations coverage
Employers of dishonest acts of employees
Is the person who is promised that
Landlord enters my home without permission. What could I sue for? What kind of coverage does he need ?
Commercial general liability
*bodily injury& property damage
Personal & advertisments injury liability -invasion of privacy
Is the person promised that an obligation will be met
Who is principal
Professionals who provide services for a fee. Doctors ,lawyers
Own a run down building that I want to turn into a fancy building I higher contractor and asked him to completed renovations in 3 months. The contractor purchase a bond from a surety company for a specified amount. That amount is payable to me in the even the contractor can not meet the specified dead line
Obligee- the person promised the obligation will be met
Principle - contractor
Guarantor - surety company
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