FL All Lines Claims Adjuster QUESTIONS AND ANSWERS RATED A

What is an eligible building for flood insurance? Correct Answer: 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? Correct Answer: Covers buildings in the course of completion. Proper coverage is 100% of expected completed value Do all Homeowners policies contain Coverage A? Correct Answer: No, HO-4 (Renters personal property) What is casual labor in workers' compensation? Correct Answer: Labor that is casual, irregular, limited or temporary purpose. What is the waiting period for worker's compensation disability? Correct Answer: 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 Correct Answer: Principle, Obligee, Surety, and Indemnitor How does a crime policy value money and securities? Correct Answer: Money is valued at face value. Securities are valued on the day the loss was discovered. How is the employee theft coverage written? Correct Answer: Scheduled persons coverage, Scheduled position coverage, and blanket coverage What is the deductible in an umbrella policy? Correct Answer: No deductible, this is liability coverage