Indemnify Study guides, Class notes & Summaries

CIC Commercial Multiline Exam Identify and describe the three primary purposes of excess liability/umbrella policies (LO1) - ANSWER 1. Provide additional limits that are excess over underlying limits of insurance 2. Provide primary coverage when underlying poliy does not respond beacuse its aggregate limits of insruance are exhausted. 3. Provide broader coverage than the exsiting underlying insurance excess liability coverage forms and commercial umbrella liability policy - ANSWER 1...

insurance - Answer- ________________ is a contract whereby one undertakes to indemnify another or pay or allow a specified amount or a determinable benefit upon determinable contingencies. casualty - Answer- ______________ insurance is insurance which pays on behalf of the insured's legal liability. liberalization - Answer- The ______________ provision broadens an insured's coverage without an increase in premium when the insurer has adopted a generic global policy revision. severabilit...

CA Life Insurance Exam Questions and Answers 100% Pass What is meant by referring to an insurance policy as a unilateral contract? Only one party makes a legally enforceable promise. When must insurance records of insurance agents and brokers be made available to the Insurance Commissioner? At all times. Any situation that presents the possibility of a loss is known as a loss exposure Which of the following information is not required to be communicated in a Life insurance contract? Personal ...

What is meant by referring to an insurance policy as a unilateral contract? - Only one party makes a legally enforceable promise. When must insurance records of insurance agents and brokers be made available to the Insurance Commissioner? - At all times. Any situation that presents the possibility of a loss is known as - a loss exposure Which of the following information is not required to be communicated in a Life insurance contract? - Personal judgment. The direct distribution of insura...

Property and Casualty License in ArkansasWhat is Insurance? - correct answer Transfers the risk of loss from individual to insurance co. What is Risk? - correct answer Chance of loss occurring What are 3 types of Hazards? - correct answer Physical, Moral, Morale What is a Peril? - correct answer Causes of loss insured against What does Indemnify mean? - correct answer Right for Reimbursement but only to the extent of the loss. Cannot gain from loss. Define Subrogation - correct an...

Florida Insurance 20-44 Exam Study Questions and Answers 100% CorrectFlorida Insurance 20-44 Exam Study Questions and Answers 100% CorrectFlorida Insurance 20-44 Exam Study Questions and Answers 100% CorrectFlorida Insurance 20-44 Exam Study Questions and Answers 100% Correct insurance - ANSWER-________________ is a contract whereby one undertakes to indemnify another or pay or allow a specified amount or a determinable benefit upon determinable contingencies. casualty - ANSWER-_____________...

1. Insurers are in the business of assuming the financial risks of others which involves entering into a formal contract. A contract is enforceable at law only when all legal elements have been observed. Insurance contracts differ from other formal agreements and are subject to what three additional elements?: Insurable Interest Utmost Good Faith Indemnity 2. Explain the meaning and disadvantage of the following approaches: Avoid- ance of Risk & Control of Risk: Avoidance: Avoidance means that...

According to ICH GCP what are the absolute minimum requirements for essential documents at site before IMP can be sent to the site? a. CV of investigator and Clinical Trial Authorization (CTA) b. Ethics Committee Approval and signed protocol c. CTA and Ethics Committee Approval d. CTA, Ethics Committee Approval and signed protocol - c. CTA and Ethics Committee Approval What C is missing from this statment in ICH GCP: The sponsor should provide insurance or should indemnify (legal and fina...

Bail Bonds Louisiana Exam With 100% Correct Answers 2023 Acquit - Correct Answer-to set free:to judicially discharge from an acquisition;to clear (a person) of a criminal charge Bail Enforcement - Correct Answer-the apprehension or surrender of a principal by a natural person who is released on bail or who has failed to appear at and state of the proceedings to answer to the charge before the court, in which he may be prosecuted obligor - Correct Answer-the party who owes the duty or debt...

LPL4802 EXAM PACK 2023. 100% TRUSTECHAPTER 1: Definition, nature and scope of the law of damages Definition: The law of damage is that part of the law which indicates how the existence and extent of damage, as well as the proper amount of damages are to be determined in the case of delict, breach of contract and other legal principles providing for the payment of damages. Nature and scope The law of damages should be defined as constituting of principles regarding the compensation of ...