Claims Adjuster\\\'s Study guides, Class notes & Summaries

-Insurable Interest must exist at the time of the loss. -Insurance Interest must exist for insurance to respond. *Show a similarity between insurance and wagering* -The insured would suffer an economic loss. - Answer- All of the following describe insurable interest EXCEPT -It is a personal contract. -Parties are of unequal power with ambiguities or unclear wording resolved in favor of the insured because it is a contract of adhesion. *Indemnity is not part of an insurance contract*...

The insurer and insured agree to a specific value of insured item Agreed Value Policies Someone who has care, custody or control of another's property Bailee Claim filed by policy holder against his _ First Party Claim When a person who entrusts another with an object and it results in injury to someone can be held liable for the injury to someone. Can be held liable for the injury i.e. Firearm or DWI Negligent Entrustment Hazard that results from a conscious dec...

The insurer and insured agree to a specific value of insured item - Answer- Agreed Value Policies Someone who has care, custody or control of another's property - Answer- Bailee Claim filed by policy holder against his _ - Answer- First Party Claim When a person who entrusts another with an object and it results in injury to someone can be held liable for the injury to someone. Can be held liable for the injury i.e. Firearm or DWI - Answer- Negligent Entrustment Hazard that results ...

Claims Adjuster's Exam (FL) (2022/2023) with Verified Solutions All of the following describe insurable interest EXCEPT -Insurable Interest must exist at the time of the loss. -Insurance Interest must exist for insurance to respond. *Show a similarity between insurance and wagering* -The insured would suffer an economic loss. An Insurance Policy is a contract with all of the following characteristics, EXCEPT -It is a personal contract. -Parties are of unequal power with ambiguities or uncl...

-Insurable Interest must exist at the time of the loss. -Insurance Interest must exist for insurance to respond. *Show a similarity between insurance and wagering* -The insured would suffer an economic loss. - Answer- All of the following describe insurable interest EXCEPT -It is a personal contract. -Parties are of unequal power with ambiguities or unclear wording resolved in favor of the insured because it is a contract of adhesion. *Indemnity is not part of an insurance contract*...