exam practice #3 mis. Flashcards
a loss payable clause
protects a loss payee to the extent that claims settlement is made jointly to the insured and the loss payee
when judges in Quebec try a case, they ascertain what article of the civil code expresses the rule of law which should be followed and then
make their decision based on their own interpretation of that rule.
common law is
case law
the three associated principles of indemnity are…
salvage, contribution, and subrogation
vacancy is considered being unoccupied for…
MORE THAN 30 consecutive days
what coverage does this refer to: coverage equals 20% of the amount under dwelling buildings and is in addition to that amount
additional living expenses coverage
under homeowners policy what has a limit when damaged is from any type of loss
securities
Rust is an example of which general category of exlusions usually found in all risk policies
invisible terms ( not wear and tear or generally not insurable)
the homeowners broad form
provides all risks coverage for buildings but only named perils for contents
the susceptibility of paper to water damage is an example of
combustibility?…
the insurance that covers the cost of blank books and recopying from source material to reproduce documents is found under
valuable papers and records.
the profits approach to business interruptions differs from earning approach in that coverage …
ceases when the business results are no longer affected, or after 12 months.
a major peril when insuring boilers is…
cracking
fidelity insurance protects clients from what
infidelity from within the organizaiton
a commercial crime insurance policy is designed to
allow the selection of coverages from a menu
