100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Adjuster Pro SC - Mod 1 - Insurance Terms and Related Concepts WITH 100% CORRECT ANSWERS 2024 $15.49   Add to cart

Exam (elaborations)

Adjuster Pro SC - Mod 1 - Insurance Terms and Related Concepts WITH 100% CORRECT ANSWERS 2024

 2 views  0 purchase

Principal of Indemnity insured's property should be restored to it's previous state, no better no worse, insured cannot profit from the loss indemnification compensation for loss Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen ...

[Show more]

Preview 2 out of 15  pages

  • August 30, 2024
  • 15
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
All documents for this subject (242)
avatar-seller
BRAINBOOSTERS
Adjuster Pro SC - Mod 1 -
Insurance Terms and Related
Concepts WITH 100% CORRECT
ANSWERS 2024

Principal of Indemnity - answer insured's property
should be restored to it's previous state, no better
no worse, insured cannot profit from the loss


indemnification - answer compensation for loss


legal contracts must have: - answer agreement,
consideration, competent parties, legal purpose


6 special characteristics of insurance contracts -
answer personal
adhesion
utmost good faith
aleatory
unilateral
conditional


aleatory - answer depending on an unknown future
event

, adhesion - answer insured agrees to the contract,
but has no say in the wording


unilateral obligation - answer only insurers make
an obligation, insureds can stop paying premiums
at any time


4 sections of a policy - answer declarations
definitions
insuring agreement
conditions
exclusions
endorsements


government/social insurance - answer non-profit
prescribed by law, mandatory
meets needs of general public
gov has a monopoly


private insurance - answer based on consumer
preferences
for profit
wide variety of insurance products

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller BRAINBOOSTERS. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $15.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

76658 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$15.49
  • (0)
  Add to cart