PA property and casualty insurance exam well answered 2024

PA property and casualty insurance examProperty -correct answer you can possess/ physically touch BI -correct answer bodily injury PD -correct answer Property damage Liability/casualty -correct answer what you pay the other guy personal lines insurance -correct answer cover needs of individual or family (auto,boat,camper,rv) commercial lines insurance -correct answer needs of a business direct loss -correct answer example - house burns down indirect loss -correct answer example - additional money you will have to spend to live somewhere else while house is being rebuilt. Out of pocket expenses. indemnify -correct answer to make whole again - no better no worse predetermined loss limit -correct answer based upon the rule of the 4Ls - you get the lower of the loss or the limit up to the level of your insurable loss. inherent vice -correct answer loss results from an inherent property not fortuitous, not covered CPC -correct answer catastrophic, predictable, covered elsewhere