What do you know about Fire and Casualty Insurance and what falls under it? In case of fire, come loss of property and a lot of substantial damage and with this, comes the importance of Fire and Casualty Insurance to assist in the coverage in terms of loss of property and casualty in regards to people and human life.
Nothing, unless the injured party can prove the damages are substantial
Reasonable attorney fees and costs only
Damages for breach, reasonable attorney fees and costs
Damages caused by the breach only
An amendment
An express warranty
A policy provision
An implied warranty
The agent can transact insurance business if it is done with another agents approval
The agent can transact any insurance business for which the agent is licensed
The agent can still transact insurance business in CA, but not in any other state until it is reactivated
The agent cannot transact any insurance business for which a valid, active license is required
It warrants that an insured has not knowingly violated an ordinance or law
The insured may not remove or modify the effect of the exclusion
It reduces the coverage on any loss if the loss was caused by the insured violating the ordinance or law
It excludes that part of the loss resulting from the enforcement of a building ordinance or law
Increased expense of repairing property to appreciated assets
The extra expense that a business incurs to continue a business while damage to the premises are being restored
The loss of profit a business incurs when it is shut down after a loss by a covered peril
Payroll and other overhead incurred when a business is shut down after a loss
There is limited glass breakage coverage in both of the broad and special forms
There is limited glass breakage coverage in the basic form
No policy limits apply to glass breakage coverage in the special form, all named perils
There is no glass breakage coverage in the broad or special forms
Impartial
Unfairly discriminatory
Excessive
Inadequate
Actual cash value
Replacement amount
Stated amount
Market Value
7 days or less
10 days or less
2 days or less
14 days or less
Occurrence
Loss sustained
Claims made
Discovery
Commercial general liability
Malpractice coverage
Employer's liability
Errors and omissions coverage
The agent must become an employee of the company within 30 days ofpolicy issuance
Name the agent to the list of the company's approved agents
Send the agent an appointment approval notice within 30 days of policy issuance
Forward to the commissioner a notice of appointment within 14 days of receipt of application
The employee pays after the deductible is met
The plan pays after the deductible is met
The employer pays after the deductible
The spouses' insurance company pays after the deductible
Both policies respon on a pro-rate basis
Only the neighbor's policy provides coverage; there is no coverage by the driver's policy
The driver's policy is primaty and the neighbor's policy is excess
The neighbor's policy is primary and the driver's policy is excess
Dealer's used stock
Motor vehicles designed for highway use
Customer's equipment in for service
Dealer's new stock
Equal the anticipated loss per month
Meet the out-of-pocket expense during the policy period
Exceed a specified limit in a set period of time
Average the maximum amount stated on the master policy
To maintain the correct limits of coverage without over or under insuring when the value of volume of the property varies during the policy term
To report losses and adjust insurance in force to conform
When the insured's premises are subject to periodic safety inspections
To establish a guaranteed amount of insurance based upon a report of values submitted the beginning of the policy term
The growing population
Employers who fail to secure the payment of workers compensation as required by law
Under-reported payroll by employers
Fraudulent claims
Personnel loss exposure
Personal property loss exposure
Personal loss exposure
Liability loss exposure
The source of investment funds
Retention of the loss by the insured
Redemption of the financial uncertainity of the insured
Payment for the cost of covered losses
Personnel loss exposure
Personal loss exposure
Indirect loss exposure
Liability loss exposure
When the structure is being renovated as the result of a fire
When the Insured's operation is halted due to a strike
When there is insufficient business personal property present to conduct customary operations
When less that 31% of the total building space is rented to others or in use by the insured
Tangible losses
Indirect losses
Intangible losses
Direct losses
Older truck cargo floater
Annual transit policy
Contract's equipment floater
Installment sales floater
The producer is an insurance solicitor
It is always a violation, no matter what type of producer
The producer is dually licensed in at least two states
The producer is a surplus lines broker
Wait!
Here's an interesting quiz for you.