Casualty insurance law Study guides, Class notes & Summaries

Property and Casualty Insurance Nevada State Law Supplement Questions and Answers 100% Pass A certificate of authority gives a(n) Company authority to transact insurance in Nevada A characteristic unique to surplus lines insurance is that it May be written with unauthorized insurers provided there are no authorized insurers selling that type of policy in Nevada The commissioner must examine authorized insurers at least one every 5 years Which of these insurance professionals inv...

Property and Casualty Insurance Nevada State Law Supplement Questions with 100% Correct Answers | Latest Version 2024 | Expert Verified | Ace the Test

CHAPTER 17: ALABAMA PROPERTY & CASUALTY INSURANCE LAW WITH COMPLETE SOLUTIONS 100% CHAPTER 17: ALABAMA PROPERTY & CASUALTY INSURANCE LAW WITH COMPLETE SOLUTIONS 100%

Binders (27-14-18) correct answers A binder is an instrument designed to provide immediate, temporary insurance coverage. Binders can be either written or oral. In the state of Alabama, how long are binders valid? correct answers 90 days or until a policy is issued. Whichever is less In the state of Alabama, if a policy has not been issued within 90 days, can a Binder be extended or renewed? correct answers Yes. If a policy has not been issued within 90 days, a Binder may be extended or re...

Xcel Solutions Property & Casualty Exam Questions and Answers An earned premium resulting from the cancellation of a policy is calculated on: - Correct Answer ️️ -On a pro rata basis, based on the previous year's rate M owns a parking garage & has coverage that states: "We will cover losses regardless if you are legally liable for the loss." This no-fault ideology will be found under: - Correct Answer ️️ -Excess Direct Coverage An insurance company writing business in a state o...

Director examination of insurer at least once every ________ years - Answer 5 Maximum fine of ________ for an individual for each insurance code violation, imprisonment for ________ months or both - Answer $1000, 6 Maximum insurer insurance code fine per violation - Answer $5000 Maximum fine for transacting insurance without a license - Answer $15,000 Lapsed licenses may be reinstated within ________ (months) upon payment of fees and completion of CE credit hours - Answer 12 A non...

If the fire causes damage to a building, the fire is A. a hazard B. a peril C. a risk D. an exposure correct answers B An individual applied for auto insurance and obtained coverage from ABC Insurance Company. Who is the first party in the contract? A. The insured (customer) B. The insurer (insurance company) C. The Agent D. The insured and agent correct answers A Wearing a seat belt in a car is example of which method of managing risk? A. Retain B. Avoid C. Reduce D. Transfer ...

Authorized insurers may choose not to participate in the plan correct answers All of the following are true regarding the Louisiana Automobile Insurance Plan EXCEPT: short-rate correct answers The named insured may cancel a property insurance policy in this state at any time, in which case the insurer must refund any unearned premium due on a __________ basis: Standard fire policy correct answers The basis for all property insurance sold in this state is the Louisiana: Sole proprietors ...

Washington State Property & Casualty Insurance Exam 100% correct answers Authorized Insurer An insurer that has qualified and received a Certificate of Authority from the Department of Insurance to transact insurance in the state. Contact adhesion the accepter of the contract must "adhere" to the written contract inducement An action aimed at persuading insolvent Bankrupt; unable to pay debts. Transacting Insurance Conducting insurance business, such as solicit...