I.A. Exam Flashcards
1
Q
Temporary license is issued for ____ days.
A
180 days
2
Q
Flood Insurance is regulated by the _____ .
A
Federal Government
3
Q
Coverage limits for Flood Insurance are ____ (structural) and ____ (personal property)
A
$250k (structural) and $100k (personal property)
4
Q
The commissioner must be notified within ___ days of a change of address.
A
30 days
5
Q
The commissioner does not make laws only ____ the law.
A
enforce
6
Q
The commissioner is elected to a ___ year term.
A
four year
7
Q
Commissioner gives notice of hearing no earlier than __ days after the notice is served.
A
10 days
8
Q
______ is not covered under workers compensation.
A
Pain and suffering
9
Q
Workers Compensation has a __ day waiting period.
A
5 day
10
Q
____ employees are needed for workers compensation
A
Five or more
11
Q
Anyone that’s receiving WC (workers comp) benefits will be paid ____ of wages.
A
66 2/3%
12
Q
Workers Comp provides up to _____ as a maximum burial allowance and a surviving spouse receives a lump sum benefit of ____.
A
$5000 as maximum & lump sum of $1000
13
Q
Fire Department Service Charge can be added as an ____. It is not part of the _____.
A
endorsement/ basic policy
14
Q
______ is not included in DP1 but it can be added as an _____.
A
Vandalism and malicious mischief / endorsement
15
Q
___, ___, and ___ are the 3 elements of a contract.
A
Offer, acceptance, and consideration
16
Q
Auto insurance will not protect your vehicle in ___.
A
Mexico
17
Q
Insurance agreement make the policy ____.
A
Active
18
Q
A ____ increases the chance of a loss.
A
hazard
19
Q
A ____ is owned by the policyholders.
A
mutual company
20
Q
A _____ is owned by the shareholders and stockholders.
A
stock company
21
Q
Insurance company that writes one line of business is known as a ____ company.
A
mono line company
22
Q
_____ is needed to protect any professionals against liability.
A
Errors and Omission coverage
23
Q
The _____ of any insurance company cannot change the contract.
A
agent
24
Q
Agents work for the _____.
A
Insurance company
25
____ work for the insured.
Brokers
26
_____ agents can't do anything.
Non active
27
_____ is the part of the policy that covers personal property.
Coverage C
28
The purpose to ____ is to be made whole again after a loss.
Indemnify
29
_____ is any actual, lawful, and substantial economic interest in the safety or preservation of the subject of the insurance from loss or destruction of the financial damage or impairment.
Insurable interest
30
The ____ is a factor for insurance premium.
law of large number
31
Personal vehicle that are used to run errands will be covered under the ______.
business owners policy - non owned auto
32
_____ is not needed if injured on the job.
Personal insurance
33
____ is a voluntary action to rid a ship of cargo to prevent further damage or peril.
Jettison
34
DUTIES FOLLOWING LOSS
- give…
- protect…
- complete a detailed…
-submitting…
-assist…
- give prompt notice of claim to the insurance company or agent
- protect the property from further damage
- complete a detailed proof of loss ( an official inventory of the damages)
make the property available for inspection by the company
-submitting to examination under oath if required
-assist the insurer as required during the claim investigation procedure
35
REPLACEMENT COST EQUATION
Replacement Cost - Depreciation = Actual Cash Value
36
OBTAINING LICENSE
- must…
- has not committed…
- has completed…
- pay…
-has successfully passed…
- must be 18 years old
- has not committed any act that is a ground for denial, suspension, or revocation of the license
- has completed any required pre-licensing course of study for the lines of authority for which the person has applied
- pay all applicable license and application fees
-has successfully passed any required examinations for the lines of authority for which the person has applied
37
An insurance company incorporated in a country other than the United States that is doing business in the United States
ALIEN COMPANY
38
A person or organization that has temporary possession of someone else's personal property
BAILEE
39
Oral or written statement that provides immediate insurance protection for a specified period; designed to provide temporary coverage until a policy is issued or denied
BINDER
40
Type of insurance that covers more than one item of property at a single location or one or more items of property at multiple locations
BLANKET INSURANCE
41
Defined in most policies to include injury, sickness, disease, and death resulting from any of these at any time
BODILY INJURY
42
Entry into a building illegally with the intent to commit a crime, especially theft
BURGLARY
43
One of the commercial auto coverage forms; covers a business's owned, non-owned, and hired autos against liability and physical damage losses
BUSINESS AUTO COVERAGE Form
44
Liability that arises out of the conduct of a business
BUSINESS LIABILTY
45
Separate form used with the commercial property coverage part of the commercial package policy that lists covered perils and exclusions; several different versions provided policy's perils insured against provisions increasingly broader coverage from basic to broad to special; a causes of loss form takes the place of the
CAUSES OF LOSS FORM
46
Person employed by or acting on behalf of an insurance company to evaluate and settle insurance claims; the adjuster must determine the cause of loss, whether the loss is covered by the policy, the value of the loss, and the amount of loss payable by the policy
CLAIMS ADJUSTER
47
In auto insurance, a type of physical damage coverage that covers loss that occurs when the insured auto strikes another object or vehicle; may also include upset or overturn of the insured auto
COLLISION COVERAGE
48
In auto insurance, a broad physical damage coverage that covers all property losses except collision and those perils or property that are specifically excluded; also called
* other than collision coverage (OTC)
COMPREHENSIVE COVERAGE
49
Monetary compensation awarded by a court to an injured party
DAMAGES
50
Dollar amount the insured must pay on each loss to which the deductible applies; the insurance company pays the reminder of each covered loss, up to the policy limits
DEDUCTIBLE
51
Insurance company doing business in the state in which it is incorporated
DOMESTIC COMPANY
52
Condition found in property casualty policies that explains the insured's responsibilities after a loss occurs
DUTIES FOLLOWING A LOSS
53
Policy that provides coverage to individuals and families; covers dwellings, other structures, personal property, and fair rental value; some versions also cover additional living expenses; the unendorsed policy does not provide liability coverage
DWELLING POLICY
54
Document attached to an insurance policy that changes the policy in some way
ENDORSEMENT
55
Professional liability coverage that protects the insured against liability for committing an error or omission in the performance of professional duties
ERRORS AND OMISSIONS INSURANCE (E&O)
56
Person who stands in a special relationship of trust to another person
FIDUCIARY
57
Insurance policy that covers property wherever it is located
FLOATER
58
An overflow of a large amount of water beyond its normal confines, especially over what is normally dry land.
FLOOD
59
An insurance company doing business in a state other than the one in which it is incorporated
FOREIGN COMPANY
60
A deliberate misrepresentation that causes harm; an all out effort by one party to deceive and cheat the other
FRAUD
61
Coverage that is part of the garage coverage form; covers a garage risk's legal liability for customers' autos in the care custody or control of the garage; at the insured's option and for an additional premium, can also apply without regard to fault
GARAGEKEEPERS INSURANCE
62
Something that increases the chance of loss
HAZARD
63
Personal multiline policy for homeowners that includes both property and liability coverages; there are different forms that provide varying degrees of property coverage; liability coverage is the same in all forms
HOMEOWNERS POLICY
64
Principle of insurance that provides that when a loss occurs, the insured should be restored to the approximate financial condition he occupied before the loss occurred, no better or no worse
INDEMNITY
65
Principle of insurance that provides that when a loss occurs, the insured should be restored to the approximate financial condition he occupied before the loss occurred, no better or no worse
INDEMNITY
66
Form of insurance originally designed as an extension of ocean marine coverage to insure transportation of goods over land
INLAND MARINE INSURANCE
67
Contract or device for transferring the risk of loss from a person, business, or organization to an insurance company that agrees, in exchange for a premium, to pay for losses through an accumulation of premiums
INSURANCE
68
Head official of a state insurance department; may also be called an Insurance Director of Insurance Superintendent
INSURANCE COMMISSIONER
69
A voluntary action to rid a ship of cargo to prevent further damage or peril. Jettison is a covered peril in ocean marine policies
JETTISON
70
Type of insurance that protects an insured from financial loss arising out of liability claims by transferring the burden of financial loss from the insured to the insurance company
LIABILITY INSURANCE
71
Hazard created by an individual who would be willing to create a loss situation on purpose just to collect from the insurance company
MORAL HAZARD
72
Hazard created by an individual's tendency to contribute to a loss through his own irresponsible actions or carelessness
MORALE HAZARD
73
Person, business, or other entity named in the declarations to whom the policy is issued
NAMED INSURED
74
In bonds, the party to whom the principle makes the promise and for whose protection the bond is written
OBLIGEE
75
A loss that occurs at a specific time and place or over a period of time
OCCURRENCE
76
The cause of loss
PERIL
77
Auto policy that provides property and liability coverage for both owned and non-owned autos used, maintained, or operated by the insured and her family members
PERSONAL AUTO POLICY
78
An insurance contract
POLICY
79
Maximum amount the insurance company will pay for a particular loss or for losses sustained during a period of time; also called limit of coverage, limit of insurance, and limit of liability
POLICY LIMIT
80
The date and time specified in the declaration for when coverage begins and ends
POLICY PERIOD
81
Liability arising out of rendering or falling to render services of a professional nature
PROFESSIONAL LIABILITY
82
An insurance company owned by its stockholders; profits are shared by the stockholders; policyholders are not entitled to share in company profits
STOCK COMPANY
83
Bond that guarantees that someone will perform faithfully whatever she agrees to do or that someone will make an agreed-upon payment to another party
SURETY BOND
84
The transfer to the insurance company of the insured's right to collect damages from another party
SUBROGATION
85
A civil wrong for which monetary damages may be provided; does not include losses arising out of contracts
TORT LAW
86
Type of policy that provides broad coverage for an insured's liability over and above liability covered by an underlying contract; may also cover losses that are excluded by the
UMBRELLA POLICY
87
not covered by insurance
UNINSURED
88
Automobile coverage designed to provide protection for the insured if she is involved in an accident in which an uninsured motorist is at fault
UNINSURED MOTORIST COVERAGE
89
Insurance that covers an employer's obligations under workers' compensation laws, which make the employer responsible for stated damages in the event of a work-related injury or illness; also covers the insured's liability for work-related injuries under common law
WORKERS' COMPENSATION AND EMPLOYERS LIABILITY POLICY
90
The Commissioner must give notice ___ days before a hearing for unfair trade practices or
unfair method of competition.
10 days
91
Rates and forms must be filed at least ___ days before proposed effective date.
30 days
92
If not otherwise provided in the insurance code, the maximum per violation penalty for violating the Mississippi insurance code is ___.
$5,000
93
The Commissioner may issue a ____ license for a maximum of 180 days to a surviving spouse, business partner, or employee if a producer dies, becomes disabled, or is called to active military service.
temporary producer
94
__ hours for property insurance licensing applicants
20 hours
95
__ hours for casualty insurance licensing applicants
20 hours
96
An insurer that terminates an appointment must notify the Commissioner within __ days of terminating a producer.
30 days
97
Civil penalty may be up to __ per violation of producer licensing statutes.
$1000
98
Producer licenses are effective for a ___ year term.
2 year
99
Twenty-four hours of ___ credits required every two years. This also includes __ hours on ethics.
Continuing education (CE) & 3 hours
100
Civil penalties for unfair competition, act, or practice
Up to___ fine per violation.
Up to ___ fine for each willful violation of a cease-and-desist order.
$5,000 & $1,000
101
MISSISSIPPI LAWS, RULES, AND REGULATIONS PERTINENT TO CASUALTY INSURANCE ONLY
*Automobile Insurance is required
Minimum automobile liability insurance limits __ __ __
$25,000 -Bodily injury or death per person in any one accident
$50,000 -Bodily injury or death to two or more persons in any one accident
$25,000 -Damage to property of others in any one accident
102
Commissioner of Insurance
* The Commissioner is elected by Mississippi ___.
* Commissioner's powers and duties include:
citizens.
&
-conducting investigations and examinations;
- making reasonable rules and regulations;
- issuing orders and notices;
- issuing insurance licenses and certificates of authority;
- imposing penalties- including fines, suspensions, and
revocations; and
- approving insurance policy forms and rates.
103
Insurer Examinations
* As often as needed, the Commissioner may...
..examine an authorized insurance carrier's
financial condition and compliance with the state insurance laws.
104
Notice of Hearings
* If it appears to be in the public's best interest...
* The statement must include...
..the Commissioner may issue a statement of charges against any person believed to be engaged in an unfair practice or method of competition.
&
notice of a hearing to be held no earlier than 10 days after the notice is served.
105
Rate Regulation
* Insurance rates are regulated...
* Risks may not be classified...
...to protect the public interest by prohibiting rates which are:
- excessive;
- inadequate; or
- unfairly discriminatory
&
based on race, color, creed, or national origin.
106
General Penalty
* For violation of the Mississippi insurance laws where no other penalty is specified, the offender will be...
...guilty of a misdemeanor and, on conviction, will be punished by a fine of not more than $5,000.
107
State Rating Bureau
* The Mississippi State Rating Bureau provides professional services to assist...
* State law requires every fire insurance company licensed to do business in the state to be a...
- No state funds are used to pay for ___.
...the Commissioner in the classification of fire insurance risks and
setting rates.
&
...member of the Mississippi State Rating Bureau and to pay their share of the bureau's expenses.
&
Bureau expenses.
108
Business Entity License
A business entity acting as an insurance producer...
The entity must:
-file a uniform business...
-designate an individual licensed producer...
...must obtain an insurance producer's license.
&
-entity application with the Commissioner and pay the required fee; -who will be responsible for the entity's compliance with insurance laws and regulations.
109
Adjuster
Generally, an insurance adjuster must be___.
A licensed adjuster ___ on behalf of either an insurer or a self-insured entity.
licensed.
&
investigates or adjusts losses
110
Nonresident License
The Commissioner may issue an insurance producer's license to qualified nonresident producers.
The person must be currently licensed and in good standing in his resident state.
The person must submit the proper application and applicable fees.
The person's home state must award insurance producer licenses to producers of this state on the same basis (a reciprocal agreement).
Nonresident producers moving to this state from a reciprocal state who apply for resident license within 90 days of cancellation of previous state license are exempt from the licensing exam requirement.
*Just keep rereading until you get it.
111
Prelicensing Education
20 hours for ____ producers
20 hours for ___ producers
20 hours for ___ producers
20 hours for ___ producers
life insurance, accident and health insurance, property insurance, and casualty insurance
112
Suspension or Revocation
The Commissioner can place on probation, suspend, revoke, or refuse to issue or renew the license of a producer who:
provided incorrect, misleading, incomplete, or materially untrue information in the license application;
violated any law, rule, regulation, subpoena, or order of the Commissioner or of another state's Commissioner;
obtained a license by fraud or misrepresentation;
cheated on a licensing exam;
failed to pay child support;
failed to pay state income tax;
keep rereading
113
Suspension or Revocation 2
The Commissioner can place on probation, suspend, revoke, or refuse to issue or renew the license of a producer who (continued):
misappropriated any monies or properties received in the course of doing insurance business;
intentionally misrepresented the terms of an insurance contract or application for insurance;
was convicted of a felony;
admitted to or was found to have committed any insurance unfair trade practice;
keep rereading
114
Suspension or Revocation 3
The Commissioner can place on probation, suspend, revoke, or refuse to issue or renew the license of a producer who (continued):
used any fraudulent, coercive, or dishonest practices, or demonstrated incompetence, untrustworthiness, or financial irresponsibility in the conduct of business;
had an insurance producer license denied, suspended or revoked in any other state;
forged another person's name in an insurance transaction; or
knowingly accepted insurance business from an unlicensed individual.
keep rereading
115
Suspension or Revocation 4
A business entity license may be suspended, revoked, or refused renewal if the Commissioner finds:
that an individual licensee's violation was known or should have been known by any partner, officer, or manager of the entity;
the violation was not reported to the Commissioner; and
the business entity did not take any corrective action.
keep rereading
116
Hearings and Penalties
For the previously mentioned violations that may result in suspension or revocation, the Commissioner may also levy a ___ of up to $1,000 per violation.
If action is taken against an applicant or licensee, the applicant or licensee may request, within ___ days, a hearing to determine the reasonableness of the Commissioner's action.
The hearing must be held within___ days.
civil penalty
&
10
&
30
117
License Renewal
* An insurance producer's license expires every ___on the last day of the licensee's ___.
24 months (biennially)
&
birth month
118
Continuing Education (CE)
To renew the producer's license, the producer must complete ___ hours of CE every two years.
___ hours must be in ethics.
24; Three
119
Reporting of Actions
A producer or insurer must report to the Commissioner any ___ taken against the producer in another jurisdiction or by another governmental agency in this state or any ___ in any jurisdiction within __ days of the action.
The report must include copies of any ___ legal documents.
administrative action; criminal prosecution; 30
&
relevant
120
Unfair Trade Practices
_____ -Offering valuable consideration, other than that which is offered in the contract, as an inducement to purchase a policy is illegal.
- this includes kickbacks of commission, extraordinary gifts, payment of consulting fees, or offering to pay the insured's premium.
____ -Deliberately making false financial statements regarding the solvency of an insurer with the intent to deceive others
Rebating; False financial statements
121
Unfair Trade Practices 2
____- It is illegal to make any written or oral statement, sales presentation, or comparison that:
-misrepresents the dividends, benefits, advantages, conditions, or terms of any policy;
-uses a name of any insurance policy that misrepresents its true nature; and
-is a misrepresentation for the purpose of inducing the lapse, forfeiture, exchange, conversion, policy loan, or surrender of any insurance policy.
Misrepresentation
122
Unfair Trade Practices 3
____ -The illegal replacement practice of misrepresenting a policy to induce a policyholder to lapse, forfeit, or surrender an existing policy and purchase a new policy from a different insurer.
Twisting
123
Unfair Trade Practices 4
____ -It is illegal for any producer to formulate or use an advertisement or statement which is untrue, deceptive, or misleading regarding any insurance company or persons associated with that company.
___ -Making any statement, written or oral, which is false or maliciously critical of the financial condition of an insurance company or a producer representing that company is illegal.
False advertising; Defamation
124
Reply to the Commissioner
The Commissioner is empowered to ____ of anyone engaged in the insurance business in Mississippi.
___ are required to reply promptly to any inquiry from the Commissioner.
investigate and make inquiries; Producers
125
Cancellation and Nonrenewal
At least 30 days in advance notice must be sent to liability, fire or multi-peril insurance policy insured before an insurer can cancel, nonrenew, or reduce the coverage for any reason other than nonpayment of premium.
If the reason for the action is nonpayment of premium, no notice is required unless there is a named creditor loss payee, in which case, at least 10 days' advance notice is required.
keep rereading
126
Automobile Cancellation
After an auto policy has been in effect for ___ days or more, it may be cancelled only for one or more of the following reasons:
-Nonpayment of premium
-Driver's license suspension/revocation of the named insured or resident operators during the policy period or the 180 days immediately preceding its effective date
-Failure to maintain membership in an association, corporation, or other organization that sponsored the policy
60 days; and keep rereading
127
Cancellation/Nonrenewal Notice
10 days' advance notice is required for cancellation due to ___, or if a policy has been in effect for ____.
__ days' advance notice is required for cancellation for any other allowable reason.
30 days' advance notice is required for ___ of the policy.
nonpayment of premium & less than 60 days; 30; nonrenewal
128
Binding Coverage
-Property and casualty agents are empowered to___ prior to the actual issue of a policy simply by indicating to the insured that she is covered.
-However, producers may not issue a ___ that alters in any way the coverage provided by the forms and endorsements, which have been filed with and approved by the Commissioner.
bind coverage; binder
129
Exempt Employments
The following are exempt employments :
-...
- Any employee of a corporation...
Although not required, ___ insurance may be issued voluntarily to cover exempt employees.
-...Corporate officers, sole proprietors, and partners who have rejected workers' compensation coverage for themselves
-...owning 15% or more of the company stock
&
worker's compensation
130
Windstorm Underwriting
The ____ was created to provide an adequate market for wind and hail coverage in the coastal areas of the state.
___ means insurance against direct loss to property from the risk of windstorm and hail as defined and limited in the Windstorm and Hail Insurance form.
Mississippi Windstorm Underwriting
Association; Essential property insurance
131
Windstorm Underwriting 2
____ means real property, and contents therein when requested, at fixed locations in the coastal area, which is determined by the association to be in an insurable condition and otherwise meets the underwriting requirements of the association.
-One- or two-family dwellings built, rebuilt, altered, or remodeled in compliance with the applicable building codes, including design-wind requirements, that are otherwise insurable may be an _____.
Insurable property; insurable risk
132
Windstorm Underwriting 3
_____ includes mobile homes, modular homes, or manufactured housing that are installed in compliance with applicable codes.
Insurable property does not include insurance on _____.
Insurable property; motor vehicles or creditor-placed insurance on mobile homes.
133
Windstorm Underwriting 4
____ means Hancock, Harrison, Jackson, Pearl River, Stone, and George counties.
Every insurer authorized to write property insurance on a direct basis in Mississippi must agree to be bound by the provisions of the statutes governing the operation of the Association as a condition of its continued authority to _____ in this state.
Coastal area; transact insurance
134
Minimum Auto Liability Limits
The minimum financial responsibility limits in Mississippi are (25/50/25):
- 25..
-50..
-25..
$25,000 for bodily injury or death of one person
$50,000 for bodily injury or death of two or more persons
$25,000 for property damage to property of others
135
Uninsured Motorist Coverage
___ policies must include uninsured motorist coverage, unless rejected in writing by the named insured.
If coverage is not rejected, limits for uninsured motorist coverage may not be ___ required for proof of financial responsibility.
-The limits may be increased, but the limits may not __ those provided in the policy for bodily injury and property damage liability.
* Uninsured motorist property damage coverage may provide an exclusion for the first ___ of damage. (a.k.a. ___)
Automobile liability insurance; lower than the minimum limits & exceed; $200 of damage (a.k.a. $200 deductible).
136
Coverage limit & Property:
__ money or related property
__ theft of firearms and etc.
__ theft of silverware and etc.
__ for property used only for business purposes
__ media used for electronics or motor vehicle
$200; $2,500; $2,500; $2,500; $250
137
Types of Homeowners Policies:
__ Broad Form; owner occupant
__ Special Form; owner occupant
__ Tenants or Renters (dwelling)
__ Comprehensive Form; owner occupant (best form)
__ Condominium owners
__ Modified Form for Special Risks
Broad = HO-2
Special = HO-3
Tenants = HO-4
Comp = HO-5
Condo = HO-6
Modi = Ho-8
138
Types of Coverages:
Coverage A ___
Coverage B ___
Coverage C ___
Coverage D ___
A = dwelling
B = other structures
C = personal property D = loss of use
139
Pays expenses to remove debris from premises if caused by a covered peril.
Debris Removal
140
Pays up to $1000 for the insured's share of loss assessment charged against the insured by the association of property owners as a result of direct loss to property owned by the association.
Loss Assessment
141
Additional coverage and their Forms:
___ HO-2, HO-3, and
HO-5
___ HO-4
Landlord's Furnishings - 2, 3, & 5
Building Additions and Alterations - 4
142
Coverage A must be ___ of Replacement Cost
80%
143
Endorsement provides a separate schedule of insurance for one or more of nine major categories of valuable property.
Schedule Personal Property
144
Endorsement adds coverage to the property sections of the policy for property damage arising out of fungi, wet or dry rot, or bacteria
Limited fungi, wet or dry rot, or bacteria
145
Coverage E includes ___: ___ & ___
Personal liability
-bodily injury
-property damage
146
What covers a water vehicle more than 26 feet in length if not owned by or rented to the insured; 50 horsepower or less and not owned by the insured; 25 horsepower or less
Watercraft Coverage
147
Exclusions of Coverages E &F
Liability for injury or damage that is expected or intended by the insured
148
What does the acronym B.A.I.L.E.D. stand for?
Bonds.
Aid (First Aid).
Interest -postjudgement.
Loss of earnings -lost income while in court.
Expenses -the insured's travel expenses to testify in court.
Defense Costs -attorney fees, court costs, etc.
(First aid expenses - reimburses the insured for expenses the insured incurs for first aid to others at the time of an accident)
149
Policy containing property and liability coverages; designed to insure an individual, not a business
Personal Auto Policy (PAP)
150
Personal Auto
Casualty Coverages: __, __, & __
Property Coverages: __ & __
Casualty= Liability, Medical Payments, & Uninsured/Underinsured Motorists
Property= Collision & Other than collision (comprehensive)
151
Any person related to the named insured or spouse who is a resident of the named insured's household.
Family member
152
Means bodily harm, sickness, or disease, including resulting death.
Bodily injury
153
Provision describes conditions for cancelation and nonrenewal
Termination
154
Coverage territory includes...
U.S., Puerto Rico, & Canada
NOT Mexico
(The auto is also insured while traveling between these territories)
155
May be written alone or with any of the other coverages
Part A - liability coverage
156
Limit of Liability that covers bodily injury and property damage is ___.
Limit of Liability that's usually expressed as a series of three numbers, such as 100/300/50 is ___.
Combined single limit
Split limits
157
Other state's required limits; insurance will pay higher portion of sum due
Out-of-state coverage
