The NYS School of Industrial and Labor Relations - ANSWER-All parties that have settled a workers' compensation claim in NY under the Alternative Dispute Resolution Program must respond to data collection requests of the:
180 Days - ANSWER-A person who is qualified to receive benefits from the M...
The NYS School of Industrial and Labor Relations - ANSWER-All parties that have
settled a workers' compensation claim in NY under the Alternative Dispute Resolution
Program must respond to data collection requests of the:
180 Days - ANSWER-A person who is qualified to receive benefits from the Motor
Vehicle Accident Indemnification Corp. and are injured by an owner of a vehicle that can
be identified, can file a claim within how many days?
$50,000. - ANSWER-the limit for medical/rehabilitation expenses under NYS automobile
"No Fault" law is:
24 months (2 years) - ANSWER-In NY, no suit or action against the INSURER for the
recovery of any claim will be sustainable in any court of law unless suit is brought
withing how many months after the inception of the loss?
To provide some form of compulsory insurance to make drivers financially responsible
for at-fault accidents. - ANSWER-What is the reason for the NY financial responsibility
law?
Garagekeepers direct primary coverage - ANSWER-Pays for physical damage to a
customer's vehicle regardless of legal liability (fault). Would also require claimant to
prove negligence on the part of the garage.
Garagekeepers Legal Liability Insurance - ANSWER-Protects the automobiles of a
customer for physical damage coverage, if they suffer damage by fire, theft, vandalism,
or collision while the auto is parked or stored at the covered location.
Both the "other than collision" and the "collision" coverage - ANSWER-Which part of the
personal auto policy will contain a deductible? (The deductible amount does not have to
be the same for the coverage.)
Acts of riot and civil commotion - ANSWER-Are not considered acts of terrorism - are
not covered.
Commercial General Liability - ANSWER-The term CGL stands for:
Subrogation - ANSWER-The substitution of one party (INSURER) for another party
(INSURED) to pursue any rights the insured may have against a third party liable for the
loss paid by the insurer.
The primary purpose of the bumper - ANSWER-To minimize damage to the occupants
of the vehicle and the vehicle itself.
,3 Year extended reporting period (to purchase) - ANSWER-Under NY law, when a
medical malpractice policy for a physician is terminated, the Insurer MUST offer
90 days - ANSWER-If a person is qualified to receive benefits from the NY Motor
Vehicle Accident Indemnification Corp. and are injured by a hit and run driver, how
many days do they have to file a claim?
24 hours - ANSWER-A person must report incidents to a law enforcement agency within
how many hours?
Uninsured Motorist Coverage - ANSWER-This coverage is mandated (required) by NYS
law and no auto insurer may exclude this coverage:
The NY Cybersecurity Regulation - ANSWER-An exempt covered entity that ceases to
qualify for an exemption will have 180 days to comply with the requirements of the
regulation.
Extended Reporting Period (ERP) - ANSWER-With a claims made CGL policy, if a loss
occurred after the retroactive date but was not reported during the policy period, what
else needs to be in place in order for the insurer to respond to the notice of claim?
60 day extended reporting period - ANSWER-Automatically built into the expiring CGL
policy.
General damages - ANSWER-Liability losses include pain and suffering, punitive
damages, loss of consortium, disfigurement and disability claims.
Special damages - ANSWER-Liability losses include medical expenses and loss wages
or the cost of other known expenses.
None of the policies will cover these acts - ANSWER-Which of the professional liability
policies would cover a dishonest, fraudulent or criminal act of the manager of a LLC?
February 15 - ANSWER-Under the NY Cybersecurity Regulation (23 NYCRR 500) each
covered entity, including insurance companies, must submit a written statement
covering the prior year certifying that it is in compliance, by Month/Date?
Earthquake coverage - ANSWER-must be purchased separately and is NOT covered
under the Homeowner forms.
The insurer - ANSWER-A non-waiver is issued by which party? - when there are
coverage issues which need further investigation and the party wishes to maintain its
rights to deny or limit coverage in the future.
, Overlap areas - ANSWER-When preparing an auto body repair estimate to submit to an
adjuster, the included operations that may be performed simultaneously and cannot be
charged for separately are known as:
Professional Liability - ANSWER-Investment consultants should purchase which policy
in order to protect themselves from errors and omissions.
Commercial Auto - ANSWER-The state requires that the vehicle be licensed and
registered under which policy? If the insurer owns a road scraper used for road
construction.
$25,000. per person and $50,000. per accident - ANSWER-The minimum coverage
required in NY for uninsured motorists bodily injury is:
an individual, a corporation, an association, a partnership, or other legal entity. -
ANSWER-a first party claimant is the entity that received the benefit of an insurance
policy that specifically covers their property. a first party claimant can be:
A specific offer by one party and acceptance by the other. - ANSWER-What constitutes
an "agreement" to enter into a valid contract?
Under no circumstances - product recall is excluded in the policy for product liability. -
ANSWER-under what circumstances, if any, will the insured's commercial umbrella
liability policy cover losses due to product recall?
The insurer might void the entire policy - ANSWER-What would most likely be the effect
of an insured's breach of warranty?
Foreign Coverage Endorsement - ANSWER-coverage applies only to employees that
are hired within the limits of the US while they are traveling or temporarily residing
outside of the US, its territories, possessions or Canada for a period no longer than 90
days. does not apply to any employee hired outside the limits of the US.
Common policy Declarations and Common policy Conditions - ANSWER-Are always
included in a Commercial Package Policy (CPP)?
Fraud - ANSWER-intentional act designed to deceive and induce another party to part
with something of value. Can occur with an agent, insured, or claimant. Can be
perpetrated before or after a policy has been issued.
fire - ANSWER-a loss covered under the commercial auto physical damage coverage.
The state of NY - ANSWER-the adjuster bond required in NY is payable to:
The general aggregate limit - ANSWER-The maximum amount for all claims paid during
the policy period
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