Florida All Lines Claims Adjuster Practice Questions with complete solutions | Latest 2023/2024

Florida All Lines Claims Adjuster Practice Questions with complete solutions | Latest 2023/2024 What is an eligible building for flood insurance? -- A structure with 2 or more outside rigid walls and a fully secure roof, built on a permanent site, with 50% or more of the value above ground level and located within an eligible community What is Builders Risk Coverage? -- Covers buildings in the course of completion. Proper coverage is 100% of expected completed value Do all Homeowners policies contain Coverage A? -- No, HO-4 (Renters personal property) What is casual labor in workers' compensation? -- Labor that is casual, irregular, limited or temporary purpose. What is the waiting period for worker's compensation disability? -- 7 days prior to the payment of disability benefits. If a disability lasts more than 21 days, benefits will be paid from the first day of injury. What are the parties to a surety bond -- Principle, Obligee, Surety, and Indemnitor How does a crime policy value money and securities? -- Money is valued at face value. Securities are valued on the day the loss was discovered. How is the employee theft coverage written? -- Scheduled persons coverage, Scheduled position coverage, and blanket coverage What is the deductible in an umbrella policy? -- No deductible, this is liability coverage What are the types of Health Insurance? -- HMO and PPO What is the limit of medical expenses in workers' compensation? -- There is no limit What does workers' compensation provide for funeral expenses? -- If death results within one year of an accident, or follows a continuous disability within 5 years, then actual funeral expenses, not exceeding $7500 What is Ocean Marine coverage? -- Oldest form of insurance known. Covers perils associated with water transport.