____________________ is measured by the cost to repair or replace the damaged property.
__________________ (also called consequential loss) is measured by the cost of dealing with
the direct loss
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Direct and Indirect Loss
known as the information page, the ______________ look like a form with the blanks filled in.
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Declarations
,Providing ______________________ is one of the insured's duties after a loss. The insurer usually
provides the insured with a _________________________form, which must generally be provided
within 60 days after the insurer requests it.
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Proof of Loss
The three types of _______________________________ are noncombustible, masonry
noncombustible, and fire resistive (i.e., the exterior walls, floors, and roof are
noncombustible, but the frame may be wood). Fire insurance rates are lowest with
__________________________ than with any other type of construction.
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Superior Construction
____________________________ is used with older buildings that have components no longer
found in modern buildings.
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Functional Replacement Cost valuation
In determining an injury award, the jury compares the ________________________ of the plaintiff
(claimant) against the ________________________of the defendant (insured) in an accident. If the
, jury finds that the plaintiff was 30 percent at fault, then the plaintiff might recover only
70 percent of his damages.
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Comparative Negligence
indemnity contracts, but policies that use the agreed value valuation method are
valued contracts.
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Most property and casualty policies are:
Many ____________________ deal with practical issues concerning who is covered, during
what periods coverage applies, and where coverage applies. Some address the
amount and how the insurer must pay for a covered loss. Others describe the duties
of the insured and the duties of the insurer when a covered loss occurs.
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Policy Conditions
The three major components of a property and casualty _________________________ include
loss costs, expenses, and a margin for profits and contingencies.
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__________________ (also called consequential loss) is measured by the cost of dealing with
the direct loss
Give this one a try later!
Direct and Indirect Loss
known as the information page, the ______________ look like a form with the blanks filled in.
Give this one a try later!
Declarations
,Providing ______________________ is one of the insured's duties after a loss. The insurer usually
provides the insured with a _________________________form, which must generally be provided
within 60 days after the insurer requests it.
Give this one a try later!
Proof of Loss
The three types of _______________________________ are noncombustible, masonry
noncombustible, and fire resistive (i.e., the exterior walls, floors, and roof are
noncombustible, but the frame may be wood). Fire insurance rates are lowest with
__________________________ than with any other type of construction.
Give this one a try later!
Superior Construction
____________________________ is used with older buildings that have components no longer
found in modern buildings.
Give this one a try later!
Functional Replacement Cost valuation
In determining an injury award, the jury compares the ________________________ of the plaintiff
(claimant) against the ________________________of the defendant (insured) in an accident. If the
, jury finds that the plaintiff was 30 percent at fault, then the plaintiff might recover only
70 percent of his damages.
Give this one a try later!
Comparative Negligence
indemnity contracts, but policies that use the agreed value valuation method are
valued contracts.
Give this one a try later!
Most property and casualty policies are:
Many ____________________ deal with practical issues concerning who is covered, during
what periods coverage applies, and where coverage applies. Some address the
amount and how the insurer must pay for a covered loss. Others describe the duties
of the insured and the duties of the insurer when a covered loss occurs.
Give this one a try later!
Policy Conditions
The three major components of a property and casualty _________________________ include
loss costs, expenses, and a margin for profits and contingencies.
Give this one a try later!
