RANDOM Flashcards
HOW MANY DAYS DOES A TEXAS ADJUSTER HAVE TO ACCEPT OR DENY THE CLAIM ONCE ALL REQUIRED INFORMATION IS RECEIVED?
15 BUSINESS DAYS
HOW MANY DAYS DOES A TEXAS ADJUSTER HAVE TO ACKNOWLEDGE CLAIM, COMMENCE INVESTIGATION AND REQUEST ALL INFORMATION (PROOF OF LOSS NOTICE)
15 DAYS
HOW MANY DAYS DOES AN ADJUSTER HAVE TO WRITE THE CHECK OR DRAFT AFTER LIABILITY IS DETERMINED?
5 BUSINESS DAYS
WHEN IS THE ONLY TIME THE TEXAS TIME REQUIREMENTS CAN BE MODIFIED?
IF ARSON IS SUSPECTED OR IF IT IS A WEATHER-RELATED CATASTROPHE
WHAT IS DEFINED AS A DAY OTHER THAN SATURDAY, SUNDAY OR HOLIDAY?
A BUSINESS DAY
HOW MANY SECTIONS DOES A HOME OWNER POLICY CONTAIN?
2 SECTIONS
WHAT IS COVERED IN SECTION I OF THE HO POLICY?
PROPERTY COVERAGE A-DWELLING COVERAGE B-OTHER STRUCTURES COVERAGE C-PERSONAL PROPERTY COVERAGE D-ADDITIONAL LIVING EXPENSES (LOSS OF USE)
WHAT IS COVERED IN SECTION 2 OF THE HO POLICY?
LIABILITY
COVERAGE E-BODILY INJURY AND PROPERTY DAMAGE
COVERAGE F-MEDICAL PAYMENTS (NO FAULT COVERAGE)
WHAT TYPE OF POLICY IF THE HO POLICY?
A PACKAGED POLICY: ALL HO POLICIES HAVE BOTH PROPERTY AND LIABILITY COVERAGE AS WELL AS THEFT.
TO QUALIFY FOR A HO POLICY, THE HOMEOWNER MUST DO WHAT?
OCCUPY THE PROPERTY
WHICH POLICY(IES) HAS BROAD NAMED PERILS ON THE DWELLING AND PERSONAL PROPERTY?
HO 2
HO 3
WHICH POLICY HAS BROAD NAMED PERILS ON DWELLING AND PROPERTY FOR RENTERS?
HO 4
WHICH POLICY HAS BROAD NAMED PERILS ON PERSONAL PROPERTY (CONDO)?
HO 6
WHICH POLICY HAD SPECIAL NAMED PERIL ON DWELLING AND PERSONAL PROPERTY?
HO 5
WHICH POLICY HAS BASIC NAMED PERILS ON THE DWELLING AND PERSONAL BELONGINGS (FOR OLDER HOMES)
HO 8
COMMERCIAL PROPERTY POLICY COVERS:
- BUILDING
- BUSINESS PERSONAL PROPERTY
- PERSONAL PROPERTY OF OTHERS
COMMERCIAL GENERAL LIABILITY COVERAGE A:
COVERAGE A-BODILY INJURY AND PROPERTY DAMAGE
- -PREMISES-I AM THERE/ LIKE SLIPPING ON WATER
- -OPERATIONS-WHAT IS THE BUSINESS DOING FOR ME RIGHT NOW/BARBER CUTS MY EAR
- -PRODUCT-WHAT DID I BUY AND PUT TO ITS INTENDED USE/BUY HAMBURGER AND BITE A PIECE OF METAL
- -COMPLETED OPERATION-WHAT DID YOU OWN; SOMEONE WORKED ON IT AND YOU HAD A LOSS///IE, ROOF FIXED BY ROOFER/RAINS LATER AND CAUSES DAMAGES
COMMERCIAL GENERAL LIABILITY COVERAGE B:
PERSONAL AND ADVERTISING INJURY:
ADVERTISING INJURY: COPY RIGHT INFRINDGEMENT
PERSONAL INJURY: SLANDER, LIBAL, FALSE ARREST
COMMERCIAL GENERAL LIABILITY MEDICAL PAYMENTS COVERAGE:
MEDICAL PAYMENTS ARE PAID REGARDLESS OF FAULT/GOOD WILL PAYMENT
A CLAIM CAN BE FILED FOR UP TO 1YR FROM THE DATE OF THE INCIDENT
****NO FAULT COVERAGE*******
COINSURANCE FOR BUILDERS RISK IS
100%
100%
