Show:
Basics.
Insurers
Insurance Regulations.
Auto Insurance.
Home owners.
100
A social mechanism In Which many persons transfer their individual risks to an insurer.
What is Insurance
100
Allows any person capable of entering into a valid contract. with restrictions for minimum levels of assets and minimum levels of capital and surplus.
What is who may be an insurer?
100
In what case did the supreme court rule that insurance was not commerce. Therefore, it was not subject to federal regulations under interstate commerce laws. leaving regulations to the sates.
What is Paul VS. Virginia 1869
100
15k for bodily injury to one person 30k for bodily injurty to all persons and 5k for property damage. Are examples of what Requirement?
What is The California vehicle code. CVC.
100
According to Mod. 6 what what home owners Form are they focusing on.
What is Homeowners 3 special form.
200
Risk where the outcome could be loss or gain.
What is Speculative Risk.
200
Insurer is not licensed to transact insurance in CA. It does not hold a certificate of Authority and is not subject to regulations by the CDI.
What is A Non-Admitted insurer.
200
A list of acceptable surplus line insures. this is a list of acceptable / non admitted insures.
What is LASLI list.
200
Puerto Rico and Canada are territory under what policy?
What is PAP?
200
Under what Coverage in HO-3 covers Materials and supplies located on or next to the residence premises used to construct alter or repair the dwelling or other structures in the residence premise.
What is Coverage A-Dwelling.
300
Restoring a person to the same financial condition had no loss occurred with no profit or gain.
What is Indemnification.
300
Mutual companies . Stock insurers. Reciprocal companies. & Risk retention Groups. Are examples of what?
What is Different types of Insurers?
300
Making false or misleading statements, about terms or benefits of an insurance policy, the financial condition on an insurer, and dividends previously paid on similar policies, are prohibited under what.
What is unfair trade practices under the code.
300
Fire, theft, vandalism, windstorm, hail and glass are common claims for (what).
What is OTC.
300
Under special limits of Liability jewelry is covered up to 1500$ under what circumstance .
What is theft.
400
1.The loss must be definable and measurable. 2.The Loss should be Accidental 3.Must be a calculable exposure based upon the law of large numbers 4.Exposure must present economic hardship and reasonable insurance cost. & 5. Risk is not inherently catastrophic.
What is Characteristics of an Ideally insurable event.
400
Under this act are rules or regulations that regulate insurance companies.
What is The Federal Liability Risk Retention Act.
400
These Acts establish standards for the Collection, use and disclosure of information gathered in connection with insurance transactions. they aim to balance the industry's need for underwriting information with the public's need for privacy.
What is (CFIPA) (cal_GLBA) AND (HIPPA)
400
Bodily injury or property damang caused intentionally by an insured.Damage to property owned by an insured. Damage to proerty being transported by an insured. Damage to property of others used by rentedto or in care of a insured. bodily injusry to an insured'd emplyee . and injury or damages casue while the vehical is used as a taxi or livery service. are examples of what exclusions.
What is liability.
400
10% of Coverage C is and extension of coverage, and may be used to cover personal property anywhere in the world is part of (blank Property)
What is C-Personal Property.
500
Determines whether a contract has the four required elements to be deemed a valid contract. & Involved with obligations imposed on people by common law. Dealing with compensating people for losses/injuries cause by negligent or wrongful acts of others.
What is the difference between contract law and Tort law?
500
The main purpose of this department is the selection, classification, pricing and monitoring of risk. also avoiding adverse selection. There purpose is to achieve a profitable distribution of exposures.
What is underwriting.
500
Who can issue a cease and desist order. And impose a fine if the Privacy Act is violated.
What is the Commissioner.
500
when a policy pays for the cost of renting a care or obtaining other substitute modes of commuting. as a result of a covered OTC or collision loss what Part of the policy is being utilized.
What is Transportation expenses.
500
If you are in a Dwelling in a hazardous brush area what could you be insured under?
What is California Fair Plan.