Tortfeasor - ANSWER wrongdoer
risk - ANSWER chance of loss
what is a hazard - ANSWER a hazard is a condition that increases the likely occurrence of
a peril or the likely severity of a loss
what is a peril - ANSWER peril is the destructive event that insurance guards against
what is the assumption of risk - ANSWER I will pay for it if it goes wrong
tort liability - ANSWER the tortfeasor who is found to be liable or responsible for a per-
son's injuries will likely be required to pay damages
open peril - ANSWER coverages of all losses EXCEPT exclusions
named peril - ANSWER coverage of a NAMED perils and nothing else
a non owned dog is in the neighborhood and bites a neighbor, based on the homeowners
insurance policy would they be covered? - ANSWER yes, because is it in their custody,
treated like child below the age of 13
what is a suit? - ANSWER a lawsuit, filing a complaint
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, what does farmers insurance include? - ANSWER FIRE LIABILITY
What happens when an individual is acting as a casualty claim adjuster? What
repercussions will be taken? - ANSWER If the Commissioner determines from the hearing
that the person has engaged in
the alleged violations, the Commissioner can issue the cease-and-desist order. The
Commissioner may also
- Impose a fine of up to $5,000 for each violation, up to a total of
$50,000 for all violations;
- Impose a fine of $25,000 for each violation, up to a total of
$250,000 in a six-month period, if the person committed the
violation willfully or should have known that the act was a
violation;
- Suspend or revoke the person's license if the person knew or
should have known that the act was a violation; and
- Order the person to pay back any money that the person
wrongfully acquired.
If an owner has a sailing vessel of 26 ft with 50 horsepower, based on the homeowners
insurance policy, will it be covered or will they need a separate coverage? - ANSWER ●
stored
● a sailing vessel under 26 feet in length; or 26 feet or longer and not
owned by or rented to an insured
● not a sailing vessel and is powered by smaller engines based on the
type of motor and subject to various restrictions
What does a boiler explosion cover? - ANSWER If the steaming boiler is inide it will be
covered
2
risk - ANSWER chance of loss
what is a hazard - ANSWER a hazard is a condition that increases the likely occurrence of
a peril or the likely severity of a loss
what is a peril - ANSWER peril is the destructive event that insurance guards against
what is the assumption of risk - ANSWER I will pay for it if it goes wrong
tort liability - ANSWER the tortfeasor who is found to be liable or responsible for a per-
son's injuries will likely be required to pay damages
open peril - ANSWER coverages of all losses EXCEPT exclusions
named peril - ANSWER coverage of a NAMED perils and nothing else
a non owned dog is in the neighborhood and bites a neighbor, based on the homeowners
insurance policy would they be covered? - ANSWER yes, because is it in their custody,
treated like child below the age of 13
what is a suit? - ANSWER a lawsuit, filing a complaint
1
, what does farmers insurance include? - ANSWER FIRE LIABILITY
What happens when an individual is acting as a casualty claim adjuster? What
repercussions will be taken? - ANSWER If the Commissioner determines from the hearing
that the person has engaged in
the alleged violations, the Commissioner can issue the cease-and-desist order. The
Commissioner may also
- Impose a fine of up to $5,000 for each violation, up to a total of
$50,000 for all violations;
- Impose a fine of $25,000 for each violation, up to a total of
$250,000 in a six-month period, if the person committed the
violation willfully or should have known that the act was a
violation;
- Suspend or revoke the person's license if the person knew or
should have known that the act was a violation; and
- Order the person to pay back any money that the person
wrongfully acquired.
If an owner has a sailing vessel of 26 ft with 50 horsepower, based on the homeowners
insurance policy, will it be covered or will they need a separate coverage? - ANSWER ●
stored
● a sailing vessel under 26 feet in length; or 26 feet or longer and not
owned by or rented to an insured
● not a sailing vessel and is powered by smaller engines based on the
type of motor and subject to various restrictions
What does a boiler explosion cover? - ANSWER If the steaming boiler is inide it will be
covered
2
