Chapter 8: Nevada Statutes and Regulations for Casualty Only (100% correct solutions)

What insurance provides coverage that indemnifies the insured against loss arising from the lack of integrity or fidelity of persons holding positions of trust, from the insolvency of debtors, or from breaches of contract? A Property insurance B Liability insurance C There is not insurance for this kind of coverage D Surety insurance correct answers D Surety insurance Surety insurance is coverage that indemnifies the insured against loss arising from the lack of integrity or fidelity of persons holding positions of trust, from the insolvency of debtors, or from breaches of contract. The proof of ability to cover any liability on account of accidents arising out of the ownership, maintenance, or use of a motor vehicle within the United States or Canada is the definition of A Proof of insurability. B Proof of financial responsibility. C Compliance. D The Nevada State Insurability Code. correct answers B Proof of financial responsibility. Every owner of a motor vehicle registered in Nevada must continuously provide proof of financial responsibility, which is the proof of ability to cover any liability on account of accidents arising out of the ownership, maintenance, or use of a motor vehicle within United State or Canada. What is continuous care coverage in this state? A Workers compensation coverage B Limited benefit coverage C Long-term care coverage D Disability income coverage correct answers A Workers compensation coverage Continuous care insurance is also known as workers compensation insurance. All persons who sell that type of coverage must be licensed as an accident and health insurance producer, as well as a casualty insurance producer. After the first 3 years of being a self-insurer, an employer must maintain a net worth of at least A 5 times the average claims paid for the previous year or $7,500,000 - whichever is greater. B Twice the average claims paid for the previous year or $2,500,000 - whichever is less. C Twice the average claims paid for the previous year or $2,500,000 - whichever is greater