FLorida General Lines Agent & Customer
Rep Study Manual Glossary - Randomly
Shuffled 2025
A sudden fortuitous event. - correct answersAccident:
This form belongs to the Commercial Property Coverage part of the
Commercial Package Policy. It covers the insured for negligently damaging
property owned by others, but in the insured's care, custody or control. -
correct answersLegal Liability Coverage Form:
Section of the insurance policy, which lists property, perils, persons, or
situations, which are not covered under the policy. - correct
answersExclusions:
An endorsement that can be added to an HO-3 form to provide replacement
cost coverage on personal property (with limitations). - correct
answersReplacement Cost Endorsement:
A type of Health insurance that covers fees of physicians for performing
surgery, with a maximum amount payable for each procedure. - correct
answersSurgical Expense Insurance:
A fundamental doctrine in property insurance that holds that when there is
an unbroken connection between an occurrence and damage that grows out
of the occurrence, then the resulting damage is a part of the occurrence. -
correct answersProximate Cause:
A type of Contract bond, which guarantees that the contractor upon
completion of the work will pay bills for labor and materials. Also called Labor
and Materials bond. See Contract bonds. - correct answersPayment Bond:
,FLorida General Lines Agent & Customer
Rep Study Manual Glossary - Randomly
Shuffled 2025
A legal liability coverage provided under the Trucker's Policy. Provides
coverage for damage to a specific trailer under the policy of the trucker in
whose possession the trailer is at the time of loss, provided the trucker is
liable for the damage under a written interchange agreement and the
damage is caused by a covered peril. - correct answersTrailer Interchange
Insurance:
In Crime insurance, the taking or attempted taking of property by one who
has caused or threatened to cause bodily harm or committed and witnessed
an obviously unlawful act. - correct answersRobbery:
Insurance where a single amount of insurance applies to two or more
coverage items. Contrast Specific insurance. Blanket insurance also refers to
a type of Employee Dishonesty coverage that covers loss caused by any
employee. Contrast Name Schedule coverage and Position Schedule
coverage. - correct answersBlanket Insurance:
An Ocean Marine coverage that provides protection for the vessel owner in
the event that freight charges are not paid. - correct answersFreight
Coverage:
An Inland Marine form, which provides "all risk" coverage for mobile
agricultural and construction equipment owned by or in the care of an
equipment dealer. - correct answersEquipment Dealers Coverage Form:
Rules of law dictate that a person must pay for damages done to another. -
correct answersLegal Liability:
A form which belongs to the Commercial Property Coverage part of the
Commercial Package Policy; It covers a tenant for certain losses following
,FLorida General Lines Agent & Customer
Rep Study Manual Glossary - Randomly
Shuffled 2025
damage to the premises from a covered peril, such as tenants loss of a
favorable lease or loss of remaining value of improvements or betterments
made by a tenant. - correct answersLeasehold Interest Coverage Form:
Something that increases the chance of loss. For instance, faulty wiring is a
hazard because it increases the chance of a fire loss. - correct
answersHazard:
The section of an insurance contract which shows, who is insured, what
property or risk is covered, when and where coverage is effective and how
much coverage applies. - correct answersDeclarations:
The transfer to the insurance company of the insured's right to collect for
damages. - correct answersSubrogation:
The maximum amount of insurance the insurance company will pay for a
particular loss, or for a loss during a period of time. - correct answersLimits
of Liability:
Marine insurance designed to provide broad coverage for cargo and ships in
transit over sea. Includes Cargo insurance, Hull insurance, Freight and
Liability coverage (Protection and Indemnity). - correct answersOcean
Marine Insurance:
In Health insurance, a period during which the policy will remain in force, if
unpaid by the premium due date. Florida law specifies the required length of
the grace period. Guaranteed Renewable: A Health insurance policy provision
that states that the insurer must renew the policy to a certain age. While the
company cannot fail to renew the policy until the specified age, it can
increase the premium. - correct answersGrace Period:
, FLorida General Lines Agent & Customer
Rep Study Manual Glossary - Randomly
Shuffled 2025
A legal agreement between two parties promising a certain performance in
exchange for a certain consideration. - correct answersContract:
Health insurance that pays a flat amount per day of hospitalization,
regardless of expenses or other insurance. Its primary purpose is to
supplement other coverage, which may be inadequate due to rising costs. -
correct answersHospital Indemnity Insurance:
A part of the Commercial Inland Marine Coverage part of the Commercial
Package Policy. It provides "aII risks" coverage for valuable contents of mail. -
correct answersMail Coverage Form:
A deductible, which requires a deduction from the loss of a percentage of the
value of the property or a percentage of the policy, limits. - correct
answersPercentage Deductible:
A Florida law describing certain practices that are prohibited, such as
misrepresentation, denying claims without reasonable investigation, etc. -
correct answersUnfair Insurance Trade Practices Act:
This form belongs to the Commercial General Liability coverage part ofthe
Commercial Package Policy. It covers liquor liability, which is excluded from
the standard CGL forms for those who are in the business of manufacturing,
distributing, selling, sewing or furnishing alcoholic beverages. - correct
answersLiquor Liability Coverage:
A Boiler and Machinery coverage that covers the cost of temporary repairs
and the costs of speeding up permanent repairs, i.e., overtime, or express
transportation charges. - correct answersExpediting Expenses:
Rep Study Manual Glossary - Randomly
Shuffled 2025
A sudden fortuitous event. - correct answersAccident:
This form belongs to the Commercial Property Coverage part of the
Commercial Package Policy. It covers the insured for negligently damaging
property owned by others, but in the insured's care, custody or control. -
correct answersLegal Liability Coverage Form:
Section of the insurance policy, which lists property, perils, persons, or
situations, which are not covered under the policy. - correct
answersExclusions:
An endorsement that can be added to an HO-3 form to provide replacement
cost coverage on personal property (with limitations). - correct
answersReplacement Cost Endorsement:
A type of Health insurance that covers fees of physicians for performing
surgery, with a maximum amount payable for each procedure. - correct
answersSurgical Expense Insurance:
A fundamental doctrine in property insurance that holds that when there is
an unbroken connection between an occurrence and damage that grows out
of the occurrence, then the resulting damage is a part of the occurrence. -
correct answersProximate Cause:
A type of Contract bond, which guarantees that the contractor upon
completion of the work will pay bills for labor and materials. Also called Labor
and Materials bond. See Contract bonds. - correct answersPayment Bond:
,FLorida General Lines Agent & Customer
Rep Study Manual Glossary - Randomly
Shuffled 2025
A legal liability coverage provided under the Trucker's Policy. Provides
coverage for damage to a specific trailer under the policy of the trucker in
whose possession the trailer is at the time of loss, provided the trucker is
liable for the damage under a written interchange agreement and the
damage is caused by a covered peril. - correct answersTrailer Interchange
Insurance:
In Crime insurance, the taking or attempted taking of property by one who
has caused or threatened to cause bodily harm or committed and witnessed
an obviously unlawful act. - correct answersRobbery:
Insurance where a single amount of insurance applies to two or more
coverage items. Contrast Specific insurance. Blanket insurance also refers to
a type of Employee Dishonesty coverage that covers loss caused by any
employee. Contrast Name Schedule coverage and Position Schedule
coverage. - correct answersBlanket Insurance:
An Ocean Marine coverage that provides protection for the vessel owner in
the event that freight charges are not paid. - correct answersFreight
Coverage:
An Inland Marine form, which provides "all risk" coverage for mobile
agricultural and construction equipment owned by or in the care of an
equipment dealer. - correct answersEquipment Dealers Coverage Form:
Rules of law dictate that a person must pay for damages done to another. -
correct answersLegal Liability:
A form which belongs to the Commercial Property Coverage part of the
Commercial Package Policy; It covers a tenant for certain losses following
,FLorida General Lines Agent & Customer
Rep Study Manual Glossary - Randomly
Shuffled 2025
damage to the premises from a covered peril, such as tenants loss of a
favorable lease or loss of remaining value of improvements or betterments
made by a tenant. - correct answersLeasehold Interest Coverage Form:
Something that increases the chance of loss. For instance, faulty wiring is a
hazard because it increases the chance of a fire loss. - correct
answersHazard:
The section of an insurance contract which shows, who is insured, what
property or risk is covered, when and where coverage is effective and how
much coverage applies. - correct answersDeclarations:
The transfer to the insurance company of the insured's right to collect for
damages. - correct answersSubrogation:
The maximum amount of insurance the insurance company will pay for a
particular loss, or for a loss during a period of time. - correct answersLimits
of Liability:
Marine insurance designed to provide broad coverage for cargo and ships in
transit over sea. Includes Cargo insurance, Hull insurance, Freight and
Liability coverage (Protection and Indemnity). - correct answersOcean
Marine Insurance:
In Health insurance, a period during which the policy will remain in force, if
unpaid by the premium due date. Florida law specifies the required length of
the grace period. Guaranteed Renewable: A Health insurance policy provision
that states that the insurer must renew the policy to a certain age. While the
company cannot fail to renew the policy until the specified age, it can
increase the premium. - correct answersGrace Period:
, FLorida General Lines Agent & Customer
Rep Study Manual Glossary - Randomly
Shuffled 2025
A legal agreement between two parties promising a certain performance in
exchange for a certain consideration. - correct answersContract:
Health insurance that pays a flat amount per day of hospitalization,
regardless of expenses or other insurance. Its primary purpose is to
supplement other coverage, which may be inadequate due to rising costs. -
correct answersHospital Indemnity Insurance:
A part of the Commercial Inland Marine Coverage part of the Commercial
Package Policy. It provides "aII risks" coverage for valuable contents of mail. -
correct answersMail Coverage Form:
A deductible, which requires a deduction from the loss of a percentage of the
value of the property or a percentage of the policy, limits. - correct
answersPercentage Deductible:
A Florida law describing certain practices that are prohibited, such as
misrepresentation, denying claims without reasonable investigation, etc. -
correct answersUnfair Insurance Trade Practices Act:
This form belongs to the Commercial General Liability coverage part ofthe
Commercial Package Policy. It covers liquor liability, which is excluded from
the standard CGL forms for those who are in the business of manufacturing,
distributing, selling, sewing or furnishing alcoholic beverages. - correct
answersLiquor Liability Coverage:
A Boiler and Machinery coverage that covers the cost of temporary repairs
and the costs of speeding up permanent repairs, i.e., overtime, or express
transportation charges. - correct answersExpediting Expenses:
