GA Claims Adjuster Terms Exam
Questions and Answers 100% Pass
Automatic Increase Endorsement - ✔✔Used to keep the coverage current as a result of
inflation on construction cost
Punitive Damages (Exemplary Damages) - ✔✔It is an award above the pain and
suffering amount as well as the special damages amount. An award intended to punish.
Comparative Negligence - ✔✔Establishes the percentage of fault shared by each driver
in an accident in which both contribute to casusing the accident
Experience Modification Rating - ✔✔The premium adjustment made for the current
year of workers compensation coverage is sometimes based on prior years Loss
Experience
Installation Floater - ✔✔This policy is used to supplement coverage provided by the
commercial property forms. It covers property off an insureds location and in transit or
at the job waiting installation or when it has been installed. Coverage ceases when the
property has been accepted by the purchaser.
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,Reasonable Expectation Doctrine - ✔✔States that a policy should include coverage's that
an average person would reasonable expect it to include.
Bailment - ✔✔A temporary entrustment of the property to another.
Vicarious - ✔✔"Means through or in place of another person."
Discrimination - ✔✔Is treating someone differently in rating or underwriting when he
or she falls into the same category as another
Coercion - ✔✔Trying to force the insured to do something he or she is not required to
do.
illegal Inducement - ✔✔Is a promise to give something that is illegal, such as rebating a
portion of the commission.
Leasehold Interest Insurance - ✔✔Protects against financial loss suffered by a building
tenant, when a favorable lease is cancelled before expiration because of loss or damage
to the building by an insured cause of loss
Remuneration - ✔✔Workers Compensation premiums are based on job description and
payroll
Fidelity Bond - ✔✔Covers the dishonest acts of employees
Named Non-Owner Coverage - ✔✔Someone who does not own a automobile, but who
drives borrowed or rented autos.
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, Bulk Shipments - ✔✔Consist of ores, coal, iron, grain, etc.
Insuring Agreements - ✔✔The perilscovered are found in one of the "three cause of
loss" forms that are a part of this term
Georgia Insurance Guaranty Association - ✔✔To pay the covered claims of insolvent
insurance companies. The fund pays property, casualty and workers compensation
claims.
Rebating - ✔✔Returning a portion of the premium or the agent's/broker's commission
on the premium to the insured or other inducements to place business with a specific
insurer.
Certificate of Authority - ✔✔Showing the powers that an insurer grants to its agents.
Express Authority - ✔✔The authority specifically given to the agent either in writing or
orally.
Other Insurance Clause - ✔✔When two or more policies are in enforce covering the
same claim
Reservation of Rights Letter - ✔✔Informs the policy holder that the insurance company
will defend him/her in a lawsuit but that certain aspects of the lawsuit may not be
indemnified (covered)
Brittie Donald, All Rights Reserved © 2025 3
Questions and Answers 100% Pass
Automatic Increase Endorsement - ✔✔Used to keep the coverage current as a result of
inflation on construction cost
Punitive Damages (Exemplary Damages) - ✔✔It is an award above the pain and
suffering amount as well as the special damages amount. An award intended to punish.
Comparative Negligence - ✔✔Establishes the percentage of fault shared by each driver
in an accident in which both contribute to casusing the accident
Experience Modification Rating - ✔✔The premium adjustment made for the current
year of workers compensation coverage is sometimes based on prior years Loss
Experience
Installation Floater - ✔✔This policy is used to supplement coverage provided by the
commercial property forms. It covers property off an insureds location and in transit or
at the job waiting installation or when it has been installed. Coverage ceases when the
property has been accepted by the purchaser.
Brittie Donald, All Rights Reserved © 2025 1
,Reasonable Expectation Doctrine - ✔✔States that a policy should include coverage's that
an average person would reasonable expect it to include.
Bailment - ✔✔A temporary entrustment of the property to another.
Vicarious - ✔✔"Means through or in place of another person."
Discrimination - ✔✔Is treating someone differently in rating or underwriting when he
or she falls into the same category as another
Coercion - ✔✔Trying to force the insured to do something he or she is not required to
do.
illegal Inducement - ✔✔Is a promise to give something that is illegal, such as rebating a
portion of the commission.
Leasehold Interest Insurance - ✔✔Protects against financial loss suffered by a building
tenant, when a favorable lease is cancelled before expiration because of loss or damage
to the building by an insured cause of loss
Remuneration - ✔✔Workers Compensation premiums are based on job description and
payroll
Fidelity Bond - ✔✔Covers the dishonest acts of employees
Named Non-Owner Coverage - ✔✔Someone who does not own a automobile, but who
drives borrowed or rented autos.
Brittie Donald, All Rights Reserved © 2025 2
, Bulk Shipments - ✔✔Consist of ores, coal, iron, grain, etc.
Insuring Agreements - ✔✔The perilscovered are found in one of the "three cause of
loss" forms that are a part of this term
Georgia Insurance Guaranty Association - ✔✔To pay the covered claims of insolvent
insurance companies. The fund pays property, casualty and workers compensation
claims.
Rebating - ✔✔Returning a portion of the premium or the agent's/broker's commission
on the premium to the insured or other inducements to place business with a specific
insurer.
Certificate of Authority - ✔✔Showing the powers that an insurer grants to its agents.
Express Authority - ✔✔The authority specifically given to the agent either in writing or
orally.
Other Insurance Clause - ✔✔When two or more policies are in enforce covering the
same claim
Reservation of Rights Letter - ✔✔Informs the policy holder that the insurance company
will defend him/her in a lawsuit but that certain aspects of the lawsuit may not be
indemnified (covered)
Brittie Donald, All Rights Reserved © 2025 3
