Public Adjuster Glossary

Question 1

Aviation Hazard

Answer 1

The additional hazard of death or injury from participating in aeronautics other than as a fare paying customer.

Question 2

Avoidance of Risk

Answer 2

Taking steps to reduce a hazard, engage in an alternate activity, or otherwise end a specific exposure.

Question 3

Bailee

Answer 3

A person or concern having possession of property committed in trust from the owner.

Question 4

Binder

Answer 4

An acknowledgment that insurance applied for is in force whether or not premium settlement has been made.

Question 5

Blanket Crime Policy

Answer 5

Covers dishonesty, broad form money and securities in and out of premises and forgery on incoming and outgoing risks.

Question 6

Boiler and Machinery Policy

Answer 6

Insurance against loss due to accident to boilers, pressure vessels or other machines including the machine and the liability arising from the accident.

Question 7

Burglary

Answer 7

Breaking and entering into the premises of another with felonious intent and with visible signs of forced entry.

Question 8

Robbery

Answer 8

The felonious taking either by force or fear of force of the personal property of another.
A HOLD UP

Question 9

Salvage

Answer 9

Property taken by over by insurance company to reduce it’s loss.
Also award recoverable by salvors under maritime law

Question 10

Second Injury Fund

Answer 10

Special fund set up by each State to pay all or part of the compensation when a partially disable employee suffers a subsequent injury.

Question 11

Workers Comp Injuries

Answer 11

1. Permanent Total (e.g. a broken neck/paralysis – cannot work at all – ever again).
2. Temporary Total (e.g.a temporary full-body cast – can work again after 8 mo.).
3. Permanent Impairment (e.g. loss of a hand – can work but modified duty).
4. Temporary Partial (e.g. broken leg – can work light duty)