LA Claims Adjuster Property and Causality Practice Exam 2 with Complete Solutions

A single Declarations page common to all coverages A single conditions section common to all coverages - ANSWER-A commercial package policy always includes Send the insured a reservation of rights letter - ANSWER-If the insured fails to report claim in a timely fashion, the adjuster will immediately ___ $1000 per person - ANSWER-The basic limit for coverage F-medical payments of the standard homeowners form is normally $250 - ANSWER-The CGL provides up to ___per day for loss of earnings as a supplementary payment Was made for the benefit of the insurance company and does not warrant the insureds compliance with all laws and regulations - ANSWER-The insurance company chooses to inspect the insureds premises, the insurance inspection: 60 days. - ANSWER-When is loss payable under LA standard fire policy? 30 days - ANSWER-When an insurer has received a completed satisfactory proof of loss, how many days does the insurer have to pay the loss expediting expense coverage - ANSWER-name the coverage that applies to the extra cost the insured incurs to make temporary repairs and speed up the permanent repairs replacement of damage covered equipment under an equipment breakdown policy Until the repairs are complete and the business re-opens, subject to a 12 consecutive month limitation - ANSWER-How long will the business owner policy pay for the "extra expense coverage" used to reduce the loss of income when the insured has suffered a loss from a covered peril handled as a supplementary payment - ANSWER-Typically how are defense cost handled under aviation policy additional living expenses is included in this coverage as well as fair rental value - ANSWER-under the HO policy, loss of use would cover what