Nevada Property And Casualty Mandatory Questions and CORRECT Answers

Abandonment Condition states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. Absolute Liability Imposed by law on those participating in certain activities that are considered especially hazardous; a person involved in such matters may be considered liable even if they weren't negligent. Accident A loss that occurs at a specific time and place Accounts receivable insurance Filed commercial inland marine from that insures against loss the insured suffers because of an inability to collect from customers when accounts receivable records are damaged or destroyed. ACV The cost to replace an item of property at the time of loss. replacement - depreciation Additional Coverages Supplemental Insurance coverages that apply only in certain circumstances.