Property and Casualty Exam- Louisiana Questions & Answers

Should 2 or more insurers issue a combined Standard Fire Policy insuring a single risk, in the event of a loss, the insured must notify - ANSWERSAny of the insurers providing coverage. The policy conditions define - ANSWERSHow parties to the contract must act following a loss. Because an insurance policy is a legal contract, it must conform to the state laws governing contracts which require all of the following elements EXCEPT - ANSWERSConditions. The value placed on property insured under a fire insurance policy is used to determine the policy's - ANSWERSPremium. Shipbuilders and repairers are covered by the - ANSWERSU.S. Longshore and Harbor Workers Compensation Act. Which of the following terms refers to a person's ability to do some work or the need to do alternative work? - ANSWERSTemporary partial disability Insurer examinations must occur no less frequently than every - ANSWERS5 years. If a commercial policy, in effect for less than 60 days, is to be canceled for nonpayment of premium, how much prior notice must the insurer give to the first named insured? - ANSWERS10 days The Residential Condominium Building Association Policy (RCBAP) is used for residential condominium building associations to cover the e