Kentucky Property and Casualty - Unit 6 fully solved graded A+ passed 2024

Kentucky Property and Casualty - Unit 6Liability Loss - correct answer A liability loss occurs when a person is determined to have been responsible, or liable, for loss to another person or another person's property and is required to make financial restitution. THIRD PARTY LOSS Example: A truck hits a school bus, seriously injuring 15 children. The truck driver caused the accident. Personal Injury - correct answer Damages to a persons character, reputation, or standing in the community. General Damages - correct answer PAIN AND SUFFERING Specific Damages - correct answer Doctor fees and ambulance fees. Negligence or "Unintentional Tort" - correct answer Negligence is the lack of reasonable care that is required to protect others from the unreasonable chance of harm. A person becomes liable by committing a tort. A tort is a civil wrong that violates the rights of others. To establish negligence, four factors must be involved... - correct answer 1.) Legal Duty Owed 2.) Breach of Legal Duty Owed 3.) Proximate Cause 4.) Damages Supplementary Payments - correct answer Paid in addition to the policy's limit of liability