Shared Flashcard Set

Details

Policies are contracts
Review questions for Property and Casualty course
36
Insurance
Not Applicable
04/18/2021

Additional Insurance Flashcards

 


 

Cards

Term
which section of the policy contains the identity of the Insured and Insurer?
Definition
Declarations
Term
the Fair Credit Reporting Act requires the insurer to
Definition
inform the applicant that an investigative report will be made.
Term
which section of the policy contains the policy limits
Definition
Declaration
Term
in situations involving misrepresentation the insurer may
Definition
cancel the policy
Term
the creation of a contract requires each of these except
notarizations
consideration
competent parties
legal purpose
Definition
notarization
Term
which section of the policy contains the Insurer's obligations to repair, replace, or pay?
Definition
Insuring agreements
Term
the primary source of insuriblity information is the
Definition
application
Term
which document specifies the probable cause of a loss and estimates the loss?
Definition
proof of loss
Term
Insurable losses will be listed in what section of the policy?
Definition
Insuring Agreements
Term
which section of the policy contains the Insured's obligation to give notice of a loss?
Definition
Conditions
Term
Which section of the policy contains the company's promist of protection?
Definition
insuring agreements
Term
the best source of moral character information is the
Definition
investigative report
Term
whice section of the policy obligates the Insurer to idemnify the Insured?
Definition
Insuring Agreements
Term
the named insured is identfied in which section of the policy
Definition
declarations
Term
under the federal Fair Credit Reporting Act the Insured has NO right to
Definition
require that the insurer supply a copy of the report
Term
which section of the policy requires the insurer to provide coverage?
Definition
Insuring Agreements
Term
which of the following is considered to be part of the policy
Definition
application
Term
which sectio of the policy specifies the Insured's responsibilities?
Definition
conditions
Term
which section of the t policy limit the scope of coverage?
Definition
exclusions
Term
A sworn statement containing information regarding the claim is
Definition
proff of loss.
Term
concealment is
Definition
intentional nondisclosure of material facts
Term
which federal law encourages the state to adopt uniform licensing standatrds?
Definition
Graham-leach-Bliley Act
Term
the purpose of the fair credit reporting act is to
Definition
provide fair and accurate consumer credit reporting
Term
Which section of the policy contains the cancellation provisions?
Definition
Insuring Agreements
Term
An insurance policy may be voided if a warranty has been
Definition
breached
Term
The Insured is entitled to
Definition
Be told the name and address of the consumer reporting company.
Term
evidence of temorary coverage is a
Definition
binder
Term
consideration is evidenced by
Definition
paying a premium
Term
Which section of the policy determines coverage?
Definition
insuring agreements
Term
an insuring agreement is
Definition
a promise to pay
Term
Which section of the policy contains the covered perils?
Definition
Insuring agreements
Term
The Insurer decides to nonrenew Alice’s policy based on information contained in a consumer report. Is the Insurer required to tell Alice that the decision to nonrenew was based on information contained in the consumer report?
Definition
Yes
Term
The Fair Credit Reporting Act
Definition
allows consumers to inster conrrectiv statements in their consumer reports.
Term
Which section of the policy contains the Insured's responsibilities?
Definition
conditions
Term
which section of the policy specifies which stores owned by an Insured are covered
Definition
declaration
Term
A written statement of fact guaranteed to be true is a?
Definition
warrenty
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