Texas All Lines Adjuster - Other Commercial Lines Coverages verified/passed 2024

Texas All Lines Adjuster - Other Commercial Lines CoveragesAverage - correct answer Term used to indicate a partial loss in marine insurance. Aviation Insurance - correct answer Insurance that provides coverage for aircraft to address exposures from operating aircraft. Barratry - correct answer Illegal acts committed willfully by the ship's master or crew to damage the ship or property. Includes hijacking, abandonment or embezzlement. Blanket Bond - correct answer Type of fidelity bond designed to cover all employees, without naming them specifically. Newly hired employees are covered automatically. Bonds - correct answer A contract between three parties, principal, surety and obligee, that guarantee performance of specific obligations. Burglary - correct answer Any act of taking property from inside a premise that is locked or from a safe/vault through forcible entry into or exit from the premises while trespassing. Cargo Coverage - correct answer Ocean Marine coverage that provides coverage for damage to cargo while in transit on a ship over waterways. Computer Fraud - correct answer Covers losses from computer use that result in fraud via money transfer, securities and other property from the insured's premises or banking premises. Contract Bonds - correct answer Type of surety bond that guarantees a contractor fulfills the obligations set forth in a construction contract. Employee Theft or Dishonesty - correct answer Theft by an employee, including the loss of or damage to money, securities or other property. Fidelity or Fiduciary Bonds - correct answer Bonds that are designed to protect employers from employee theft and other acts of dishonesty. Filed Lines of Coverage - correct answer Inland Marine coverage forms that are filed with the state's department of insurance and can be written as part of a Commercial Package Policy as an Inland Marine coverage part. Forgery or Alteration - correct answer The signing or changing of another person or organization's name with the intent to defraud. Free of Particular Average Loss - correct answer Partial losses that are not covered by ocean marine insurance at all. Freight Coverage - correct answer Ocean Marine coverage that provides coverage for the loss of shipping costs due to an Ocean Marine loss. Fund Transfer Fraud - correct answer Covers losses from fraudulent financial transactions to or from an insured's financial institution or bank. General Average Loss - correct answer This is a partial loss resulting from acts to sacrifice cargo to protect the remaining property of the ship. Jettison is a general average loss. Each owner, property/cargo owners and ship owners, share in the loss in proportion to the total property interest. Hull Coverage - correct answer Ocean Marine coverage that provides physical damage coverage for ships/vessels while on oceans, rivers and lakes. This coverage is like collision coverage for autos. Individual Bond - correct answer Type of fidelity bond designed to cover a single, named individual only. Inland Marine Insurance - correct answer 1Inland Marine Insurance was developed to cover cargo that is transported over land instead of waterways.