Illinois Casualty Insurance
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1. Risk The degree of exposure to loss caused by covered peril
2. Insurable interest and indemni- Being in a position where you can stand to lose money should
ty damage occur
3. Accident A sudden, unforeseen, unintended event
4. Requirement to make a liability Negligence
claim against someone else Damaged
Proximate cause
5. Negligence Failing to take responsible precautions for an individual un-
der the circumstances
6. Autos are usually insured for Actual Cash Value
what value?
7. Fair Credit Reporting Act A federal law which protects the applicant in information
collected about him/her
8. legal subject The legal requirement that a contract be consistent with pub-
lic policy
9. Vicarious Liability Liability which one person such as an employer has for the
actions of another such as an employee
10. Liability coverage will pay for Damage to a third party auto
what?
11. Personal auto policy covers: Thirteen year old son of the insured driving his fathers auto
Household employee driving the insured auto on an errand
Liability incurred by an employer while an insured employee
is driving his personal car on company business
, Illinois Casualty Insurance
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12. Auto Liability Coverage covers: Liability for property owned by or in the care, custody or
control of the insured
Liability for injuries to employees
Liability incurred while driving a non-owned auto while en-
gaged in the auto business
13. Auto Liability Coverage Derived from the Law of Tort
The insurance company has an obligation to investigate, set-
tle and/or defend the claim
The insured has an obligation to cooperate with the insurance
company's investigation, settlement and/or defense of the
claim
14. Supplement payment found in Appeal bonds required by a covered claim against the in-
most auto policies sured
Defense costs
Bail bond charges
15. Included under Auto Liability Liability caused by an employee
coverage Liability incurred while driving a non-owned auto
Liability incurred by an unintended act
16. Employers non-ownership lia- An employers liability caused by an employee driving his or
bility coverage her personal car on company business
17. Auto Medical Payments Cover- Medical expenses resulting from injuries the insured sus-
age covers: tained while driving her/her own car
18. Physical Damage Coverage cov- Damage to a non-owned auto not regularly driven by the
ers: insured which occurred while the auto was driven by an
insured
19.
Study online at https://quizlet.com/_a6j72t
1. Risk The degree of exposure to loss caused by covered peril
2. Insurable interest and indemni- Being in a position where you can stand to lose money should
ty damage occur
3. Accident A sudden, unforeseen, unintended event
4. Requirement to make a liability Negligence
claim against someone else Damaged
Proximate cause
5. Negligence Failing to take responsible precautions for an individual un-
der the circumstances
6. Autos are usually insured for Actual Cash Value
what value?
7. Fair Credit Reporting Act A federal law which protects the applicant in information
collected about him/her
8. legal subject The legal requirement that a contract be consistent with pub-
lic policy
9. Vicarious Liability Liability which one person such as an employer has for the
actions of another such as an employee
10. Liability coverage will pay for Damage to a third party auto
what?
11. Personal auto policy covers: Thirteen year old son of the insured driving his fathers auto
Household employee driving the insured auto on an errand
Liability incurred by an employer while an insured employee
is driving his personal car on company business
, Illinois Casualty Insurance
Study online at https://quizlet.com/_a6j72t
12. Auto Liability Coverage covers: Liability for property owned by or in the care, custody or
control of the insured
Liability for injuries to employees
Liability incurred while driving a non-owned auto while en-
gaged in the auto business
13. Auto Liability Coverage Derived from the Law of Tort
The insurance company has an obligation to investigate, set-
tle and/or defend the claim
The insured has an obligation to cooperate with the insurance
company's investigation, settlement and/or defense of the
claim
14. Supplement payment found in Appeal bonds required by a covered claim against the in-
most auto policies sured
Defense costs
Bail bond charges
15. Included under Auto Liability Liability caused by an employee
coverage Liability incurred while driving a non-owned auto
Liability incurred by an unintended act
16. Employers non-ownership lia- An employers liability caused by an employee driving his or
bility coverage her personal car on company business
17. Auto Medical Payments Cover- Medical expenses resulting from injuries the insured sus-
age covers: tained while driving her/her own car
18. Physical Damage Coverage cov- Damage to a non-owned auto not regularly driven by the
ers: insured which occurred while the auto was driven by an
insured
19.
