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Exam (elaborations)

Property and Casualty insurance

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proximate cause - the first cause in an unbroken chain of events Elements of a legal contract - Competent parties, Agreement, Legal Purpose, consideration Binder - temporary contract of insurance. Pending issue of the policy, good for 30 days DICE - 4 major parts to an insurance policy Declarations - 6 P's policy number, parties, property description, policy term, policy limits, premium Insuring Agreement - Promise to Pay, Perils, Liability Conditions - Rules of the Game, Insured's duties in a loss, Insurer's subrogation rights, mortgagees’ rights Exclusions - Contains property and perils not covered. Direct Liability - Insured

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Institution
Property And Casualty Insurance
Module
Property and Casualty Insurance









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Institution
Property and Casualty Insurance
Module
Property and Casualty Insurance

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Uploaded on
March 2, 2024
Number of pages
5
Written in
2023/2024
Type
Exam (elaborations)
Contains
Questions & answers

Subjects

  • direct liability
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