Louisiana Property and Casualty Insurance Law with Complete Solutions

Authorized insurers may choose not to participate in the plan - ANSWER-All of the following are true regarding the Louisiana Automobile Insurance Plan EXCEPT: short-rate - ANSWER-The named insured may cancel a property insurance policy in this state at any time, in which case the insurer must refund any unearned premium due on a __________ basis: Standard fire policy - ANSWER-The basis for all property insurance sold in this state is the Louisiana: Sole proprietors must be covered under the mandatory coverage - ANSWER-Which of the following is not true regarding Workers' Compensation in this state: $100,000 - ANSWER-A client paid $25,000 for a lot upon which he built a new home valued at $75,000. If his insurer writes a dwelling property policy on the home with a policy limit of $100,000 and charges him a premium based upon that amount, how much must they pay the insured in the event of a total loss: 1 week - ANSWER-Under Workers' Compensation, the waiting period for loss of income due to disability is: Age of the named insured - ANSWER-After a personal auto policy has been in effect for 60 days, an insurer may cancel for all of the following reasons EXCEPT: Auto insurers may specify that repairs be completed by a particular shop - ANSWER-All of the following are true regarding Loss Payments on property/casualty insurance policies EXCEPT: Agents may not bind coverage with the corporation - ANSWER-All are true regarding the Louisiana Citizens Property Insurance Corporation EXCEPT: Louisiana Workers' Compensation Corporation - ANSWER-A corporation that was created as a private, non-profit entity to operate as a domestic insurer to provide a residual market for Workers' Compensation insurance for employers that have in good faith, but without success, sought coverage in the voluntary market is known as the: