Casualty insurance law Study guides, Class notes & Summaries

Texas Property & Casualty Insurance License Exam with Accurate Answers 2023 In order to be considered legally binding, an insurance contract must include all of the following - Offer and acceptance. Competent parties. Consideration (The four essential elements of all legal contracts are offer and acceptance, consideration, legal purpose, and competent parties.) With respect to a bonded contractor who defaults on a construction performance contract, which of the following statements is...

Illinois State Law Property/Casualty Supplement, casualty insurance LAW, Illinois Casualty Insurance Exam Review, Statutes and Regulations Casualty Insurance Illinois, Property & Casualty IL Law, IL Casualty Insurance Practice Test Questions, (Verified Answers)(Full Solution Pack)

Binders (27-14-18) - A binder is an instrument designed to provide immediate, temporary insurance coverage. Binders can be either written or oral. In the state of Alabama, how long are binders valid? - 90 days or until a policy is issued. Whichever is less In the state of Alabama, if a policy has not been issued within 90 days, can a Binder be extended or renewed? - Yes. If a policy has not been issued within 90 days, a Binder may be extended or renewed with the approval of the Commissione...

Florida Final exam 2-20 | 84 Questions and Answers With Complete Solutions 2024 Types Of Property Policies - % Property Insurance Terms And Related Concepts - % Property Policy Provisions And Contract Law - % Types Of Casualty Policies, Bonds, And Related Terms - % Casualty Insurance Terms And Related Concepts - % Casualty Policy Provisions - % Florida Statutes, Rules, And Regulations Common To All Lines - % Florida Statutes, Rules And Regulations Pertinent To General Lines In...

Final exam 2-20 Questions and Answers 100% Pass Types Of Property Policies - % Property Insurance Terms And Related Concepts - % Property Policy Provisions And Contract Law - % Types Of Casualty Policies, Bonds, And Related Terms - % Casualty Insurance Terms And Related Concepts - % Casualty Policy Provisions - % Florida Statutes, Rules, And Regulations Common To All Lines - % Florida Statutes, Rules And Regulations Pertinent To General Lines Insurance - % Florida Statutes, Rules And Re...

Illinois State Law Property/ Casualty insurance LAW, Illinois Casualty Insurance Exam Review 2023. Insurer is required to explain delay if claim unresolved beyond this period 45 Producer pays to county treasurer $____ for unfair practice of twisting 200-10,000 Illinois Insurance Guaranty Fund's liability limit to insureds, beneficiaries, annuitants, and other claimants in insurer insolvency $500,000 Insurer must provide ___ days' written notice to terminate an independent insurance ag...

Wisconsin Casualty Insurance Law Questions and Answers 100% Pass In the event an insurance company decides not to renew an auto insurance policy, how much notice is required to be given to the policyholder? 1. 60 days 2. 10 days 3. 20 days 4. 30 days 1. 60 days An automobile liability insurance policy that is purchased to satisfy the requirements of the Wisconsin Financial Responsibility Law must contain all of the following coverages, EXCEPT 1. Medical payments 2. Uni...

Illinois State Law Property/ Casualty insurance LAW, Illinois Casualty Insurance Exam Review, Statutes and Regulations Casualty Insurance Illinois, Property & Casualty IL Law, IL Casualty Insurance Practice Test Questions, (Verified Answers)(Full Solution Pack) DOI time frame for hearing after cease and desist order 20 to 30 days Producer fine for cease and desist violation 100/day up to 5000 Producer fine per violation for refusal to obey unfair trade practice cease and desist order 1,000...

Areas of regulation for Intermediaries - Q-ualifaction (must pass test) O-peration of business (must follow requirements) L- Icences - Must have license L- icence Renewal - Renewed annual The Categories of insurance: - 1) Social -Workers Compensation 2) Life and Health Life, accident and sickness, and disability. 3) General property/casualty insurance Personal Property Boiler and Machinery Automobile Commercial property Crime Business interruption Liability Aviation Marine Inla...

Rules of Construction Help to identify and establish the intent of the parties to the contract Utmost good faith Each party is entitled to rely on the representation of the other, and each party should have a reasonable expectation that the other is acting in good faith without attempts to conceal or deceive. Aleatory Contract A contract under which one party's performance is contingent on an uncertain event. property and casualty agent has the power to bind the insurer...