Review Which clause broadens coverage of an existing policy with no increase in premium?
Kinh Nghiệm về Which clause broadens coverage of an existing policy with no increase in premium? 2022
Hoàng Phương Linh đang tìm kiếm từ khóa Which clause broadens coverage of an existing policy with no increase in premium? được Update vào lúc : 2022-11-04 17:36:03 . Với phương châm chia sẻ Kinh Nghiệm Hướng dẫn trong nội dung bài viết một cách Chi Tiết Mới Nhất. Nếu sau khi đọc Post vẫn ko hiểu thì hoàn toàn có thể lại Comment ở cuối bài để Admin lý giải và hướng dẫn lại nha.Definition
Liberalization Clause — a provision that extends to persons already insured under a particular policy the broadened coverage features that may be introduced in subsequent editions of that policy form. In umbrella liability insurance, a clause specifying that coverage will be as broad as that provided by the primary liability policies.
Nội dung chính Show- Definition Related ProductsWhat does concurrent coverage mean?Which provision specifies that no coverage applies if the loss benefits a person who has care?What is the insuring clause in insurance?Which term describes coverage that applies only to loss by the perils stated in a policy?
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Insurance
QuestionAnswerWhich of the following is not a condition found in an insurance policy? Insuring Agreement True or False. Subrogation allows the insurer to file suit against the the insured False True or False about right of salvage. The insurer has the right to take possession for damaged property after payment of a loss? True The part of an insurance policy that states where the risk is located is the: Declarations True or False regarding property insurance. The owner of clothing left in the care of a dry cleaner is called a bailee? False What is an example of a hostile fire? An uncontrolled campfire in the woods Which policy provision omits certain ricks from coverage? Exclusions The insuring agreement of a policy describes: Perils that are covered Loss of income suffered by a storeowner after his/her store is destroyed in a fire is considered a(n): Indirect Loss What is the best definition of Actual Cash Value in property insurance? Replacement cost minus depreciation When a loss occurs as a result of two perils, one of which is excluded and the other of which is insured against, the situation is known as: Concurrent Causation What may broaden the coverage found in an insurance policy? Endorsements True or False. The perils insured against are listed in the Declaration of a property policy? False Which section lists the perils insured against by a property insurance policy? Insuring Agreements True or Falso regarding the structure of a property policy. The insured’s duties in case of loss are found in the Insuring Agreement False A building with no physical contents and no occupants is said to be: Vacant Which of the following is attached to a property and casualty insurance policy to amend policy provisions or conditions? Endorsement The location of the insured risk can be found is in which part of the insurance policy? The Declaration When property is valued on a replacement cost basis, losses will be paid: At today’s costs, without any deduction for depreciation Which provision stipulates that coverage will not benefit a party that is holding, storing, or moving insured property for a fee? No Benefit to Bailee Which type of construction material has a fire-resistance rating between one and two hours for walls, floors, and roofs? Modified fire-resistive Which provision specifies that no coverage applies if the loss benefits a person who has care, custody, or control of the insured’s property? No Benefit to Bailee An insured owns a home with a replacement cost of $300,000 and a market value of $250,000. What is the most a valued policy will pay in the sự kiện of a total loss without a deductible? The policy limit Property insurance policies that apply coverage only to perils that are stated in the policy, are considered to be written on: A named peril basis Which of the following methods of writing insurance is used to provide insurance on properties different locations, using a single policy, and a single limit of insurance? Blanket Which clause broadens coverage of an existing policy with no increase in premium? Liberalization The standard policy structure for insurance policies includes all of the following sections, except: Conditions, Exclusions, Declarations, Duties Duties True or False. The perils that are not insured against is not included in the Declaration of a Property Policy? True When the insurance company and insured cannot agree upon the amount of the loss, the person selected to help the two hired appraisers is called a(n): Umpire What I the name for the termination of an insurance policy before the expiration date? Cancellation When the insured and the insurer fail to agree on the amount to be paid for the property loss, the dispute is resolution method is called a(n): Appraisal True or false about property policy. The coinsurance clause makes the policy more costly? False In property insurance, the principle that gives the insurer the right to take possession of damaged property after paying the loss is known as: Right of Salvage The concealment and fraud condition in a property insurance policy states: The policy will be voided if there is material concealment, misrepresentation, or fraud on the insured’s part K owns several buildings different locations with each one insured on a separate policy. Which of the following methods of writing insurance does this describe? Specific Limit What is not true about an insurance policy? The insuring agreement includes the name of the insured Actual Cash Value is best defined as which of the following? Today’s current price, minus depreciation When firefighters extinguish a house fire with water, the water damage is considered a(n): Direct Loss The loss of property when the cause of loss is not known is considered: Mysterious disappearance Which term describes the situation that occurs when two policies covering the same property contain different policy periods? Non-concurrency Theft is specifically defend as: Any act of stealing A secondary loss that occurs as a result of a direct loss from a covered peril is considered: Consequential Loss When a building has physical contents but no occupants, the building is said to be: Unoccupied Which is not found on the Declarations Page? Exclusions What party may assign a standard property policy? The insured with prior written permission of the insurer In property insurance, which clause prevents the insured from relinquishing ownership and leaving damaged property to the insurer and claiming a total loss? Abandonment Which property insurance condition states that a suit may not be filed by the insured against the insurer under certain circumstances? Legal Action Against Us True or False regarding are duties of an insured after a loss. The insured is responsible for determining the valuation method the insurer will use to pay the loss? False Short rate cancellation occurs when: The insured cancels the policy mid-term X's neighbor shoots off fireworks on July 4th and puts the shells in X's trash can, causing a fire and damaging X's garage. X's company pays the loss and contacts the neighbor for reimbursement. This is an example of: Subrogation What is true of the Insuring Agreement? The promise of indemnify an insured for a covered cause of loss When a property insurance policy states that damaged property will be replaced with other property that performs the same function with similar efficiency but is not identical to the damaged property, the policy is written on which of the following bases? Functional Replacement Cost Which of the following is used to resolve differences between the insured and the insurer? ArbitrationWhat does concurrent coverage mean?
Concurrent Insurance — two or more policies covering the same exposure and having the same policy period and type of coverage trigger. It is important for primary and excess liability policies to be concurrent.Which provision specifies that no coverage applies if the loss benefits a person who has care?
Insurance.What is the insuring clause in insurance?
The Insuring Agreement This is a summary of the major promises of the insurance company and states what is covered. In the Insuring Agreement, the insurer agrees to do certain things such as paying losses for covered perils, providing certain services, or agreeing to defend the insured in a liability lawsuit.Which term describes coverage that applies only to loss by the perils stated in a policy?
named peril coverage. Nearly every homeowners insurance policy protects against multiple perils, but some homeowners insurance policies only cover specifically named perils on their policies. This is called named-peril coverage, also known as closed-peril insurance, specified-perils insurance or a named-risk policy. Tải thêm tài liệu liên quan đến nội dung bài viết Which clause broadens coverage of an existing policy with no increase in premium? Assignment clause insurance Abandonment clause insurance
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