the waiting period is 30 days as required by the Nation flood insurance program
How long is the waiting period after the application has been accepted
... [Show More] before flood coverage goes into effect?
a customers camera left at a camera shop for repairs
which of the following Is covered under the camera and musical instruments dealers floater
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the access over the self- insured retention
retention is equivalent of a deductible in property insurance
when an umbrella policy is broader than underlying insurance and it pays a loss that is not covered by the underlying policy, it usually only pays
private insures that wish to write and service national flood insurance policies on a no risk bearing basis
Who would participate in a WYO flood insurance program?
$250,000
The regular National Flood Insurance Program would insure an eligible single-family dwelling for up to
Sewer backup
what is not considered a flood
earthquake
what best describes a trembling or shaking of the earth that is volcanic or seismic in origin
a camera the insured has with him on vacation
what would be covered by the brand theft endorsement on a dwelling policy
blanket position
covers all employees in all positions on a per employee basis
what form provided the broadest coverage under an employee theft coverage?
overflow of inland or tidal waters
unusual and rapid accumulation or runoff of surface waters from any source
a mudflow
All of the above
what would be considered causes for flood conditions covered by the national flood insurance program?
30 days
the mail coverage form is always written on a reporting form basis; after the end of each reporting period shown in the declarations reports are due within
a friend rents their boat and runs it into a neighbors dock
no fees allows
An insured couple owns a pontoon boat. Which situation would NOT be covered by their watercraft endorsement under their homeowners policy?
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they are automatically provided with replacement cost coverage
what is true regarding single dwellings that are insured to at least 80% of the replacement value
none - (deterioration of a film, exposure of negative film to light, electrical erasure of tape, none of these
which of the following would be covered under the film coverage form
outside the premises
Which coverage would a business owner need in a crime policy to cover money that may be stolen from a messenger?
$20 per day; $600 maximum
Tom's Truck Service's vehicle is stolen. The policyholder may obtain coverage for transportation expenses subject to which of the following limits?
faulty packaging of cereal caused spoilage that resulted in someone getting sick
product liability covers damage done by the product but not damage to the product
example of product liability claim
the garage coverage form does not cover property damage for a customers vehicle that is on a service hoist or for bodily injury
to perform work on customers car, a mechanic in an auto shop put the vehicle on a service hoist. the hoist collapsed, damaged the vehicle and injuring the mechanic. in regard to the garage coverage form, which statement is true
federal employees compensation act
which federal act provides benefits to injured civilians who are employed by the federal government
deliberate law violation
Employment practices liability insurance (EPLI) would not cover claims arising from
occupational disease caused or aggravated by a condition of employment
A plant worker for a chemicals manufacturer was recently diagnosed with a rare blood disease. She told her doctor that her job required her to handle industrial waste chemicals. Which of the following types of injuries is covered under the workers compensation policy?
higher limits
An insured is involved in an auto accident in another state. the state has a financial responsibility law that specifies limits of liability higher than the limits shown in the declarations. what amount will the insured's policy pay?
claims made form
a liability policy that provides coverage for a claim for injury or damage if the claim is first reported or filed against the insured during the policy period is called
losses due to the insureds negligence
Coverage A: Bodily Injury and Property Damage in the commercial general liability policy will cover
the insureds business income losses due to personal injury
with respects to commercial auto policies, the garage coverage form provides liability protection for all of the following except
the failure of an attorney to properly defend a client due to his personal dislike of a client
intentional breach of duty would not not be covered
this situation would not be covered under a professional liability policy
false
the policyholder can sue the insurer whether or not all conditions and provisions of the policy have been met
...
the commissioner is placed in office by
investigation of claims by an insurer which has relocated in another state
a valid certificate of authority is required by the commissioner in order for an insurer to transact business in Oklahoma. some exceptions apply to insurance transactions for which a certificate of authority is not required. what is permitted without a certificate of authority?
Foreign
A foreign insurer is domiciled in one state and transacts insurance in another. A domestic insurer transacts insurance in the domicile state (in this case, Montana). An alien insurer is domiciled in one country and transacts insurance in another.
an insurance company is domiciled in Montana and transacts in Wyoming. which term best describes the insurer's classification in Wyoming?
the commissioner must approve the agents appointment.
before an insurer pays fees or commissions to an agent, which of the following must happen
high risk individuals
surplus lines insurances usually involves insurance for which type of individual
Principal - obligee - surety
The principal makes a promise to perform for the obligee; the surety pays loss to obligee if the promise is not kept.
who are the parties to a bond
errors and omissions
professional liability coverage protects against legal liability resulting from
$6,000 would be paid under the other than collision coverage
An insured hits a deer and crashes his car into a tree. The total damage to the vehicle is $6,000. How will this loss be covered?
premises and operations
A customer was injured in a supermarket parking lot when a grocery cart collided with the customer's leg. Coverage for this claim would be provided under
this loss is not covered
An insured is driving her auto and strikes a large pothole, causing a flat tire. which coverage of the insureds personal auto policy will pay for the repair
the agency loses commission income from polices that were not issued by the insurer
an insurance agency could purchase an error and omission insurance policy which would provide protection in the event of any of the following events
true
the limit of liability is the greater actual cash value of the vehicle at the time of loss or the amount necessary to repair or replace the vehicle
there is no coverage
A used car dealer takes a car in trade as partial payment for a car on its car lot. The customer promises to bring in the car's title but does not. Another customer take s the trade-in for a test drive and has an accident. In regard to the dealership's business auto physical damage coverage, which of the following is true?
malpractice coverage
the type of profession liability coverage a medical doctor needs is [Show Less]