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Details Title: The Money Maker Description: makes money Total Flash Cards: 11 Created: 01/12/2007 10:36:28	To study from this set of flash cards, or to create your own your own study flash cards, register HERE. If you are already a registered user, CLICK HERE.
Cards Term Adjuster Definition A person who investigates and settles insurance claims. Term Binder Definition A temporary insurance contract that provides proof of coverage until you receive a permanent policy Term Cancellation Definition Termination of an insurance policy by the company or insured before the renewal date Term Claimant Definition A person who makes who makes an insurance claim Term Comprehensive Coverage Definition Pays for damage to or loss of your automobile from causes other than accident. These include hail, vandalism, flood, fire and theft. Term Lapse Definition Termination of an insurance policy due to non-payment of premiums Term Liability Definition Responsibility to another for one's negligence Term Loss History Definition Refers to an insured history of claims with other companies, or the company they are currently with. A company will consider "loss history" when underwriting a new policy or considering a renewal of an existing policy. Term Non-renewal Definition A decision by an insurance company not to renew a policy Term Replacement Cost Definition The cost associated with replacing property at current market prices. Term Underwriter Definition The person who reviews an application for insurance and decides if the applicant is acceptable and at what premium rate