CT ALL-LINES ADJUSTER LICENSING EXAM
Abandonment - Answers - Relinquishing of property and letting go of all legal rights
with the intent to claim a total loss.
Abandonment Clause - Answers - A property policy provision that stipulates that the
insurer need not accept any damaged property that the insured chooses to relinquish.
Absolute Liability - Answers - The performance of an act so dangerous as to be
sufficient to trigger liability regardless of the degree of negligence.
Accident - Answers - An unforeseen, unintended, and unexpected event, which occurs
suddenly and at a definite place.
Accounts Receivable Insurance - Answers - Pays for the cost of reconstructing
accounts receivable records that have been damaged or destroyed by a covered peril.
Action Over Claim - Answers - A demand by a third party in a subrogation action suing
for damages from the employer. (Worker's Compensation)
Actual Cash Value (ACV) - Answers - Placing value on a property as of the time of its
loss or damage.
Additional Living Expense Insurance - Answers - Provides payment for extra expenses
made necessary by the insured's inability to reside in the insured dwelling because of a
cover loss.
Adhesion Contract - Answers - Standardized set of agreements offered by one party to
another on a take it or leave it basis.
Admiralty Courts - Answers - Courts of law that deal with matters pertaining to the sea.
Admitted Company - Answers - An insurance company that is licensed to conduct
business within a given state.
Advertising Injury - Answers - Claim arising out of slander, libel, copyright infringement,
or misappropriation of advertising ideas.
Aggregate Limit - Answers - Maximum amount an insurer will pay under a policy in any
one policy period.
Alienated Premises - Answers - Property that has been sold by an insured.
Americans with Disabilities Act (ADA) - Answers - Passed by Congress in 1990,
requires that reasonable accommodation be made in public accommodations, including
the workplace for those with physical or mental disabilities.
, Apportionment - Answers - Dividing a loss between multiple insurers that cover the
same loss.
Arbitration Clause - Answers - An insurance policy that spells out how disagreements
over a claim are settled.
Assumption of Risk Doctrine - Answers - Defense against a negligence claim that bars
recovery for damages of a person understands and recognizes the danger inherent in a
particular activity or occupation.
Attractive Nuisance - Answers - Condition that can attract and injure children. The
occupants of land on which such a condition exists are liable for injuries to children.
Bailee - Answers - One who is charged with the care of the property of another.
Bailment - Answers - Delivering property in trust to another for a limited time and
specific purpose.
Bailor - Answers - The person delivering property to another in trust.
Barratry - Answers - Illegal acts committed willfully by a ship's master or crew for the
purpose of damaging the ship or cargo.
Betterment - Answers - The difference in the value of property before loss and after
restoration.
Blanket Coverage - Answers - Insuring various items of property under one limit of
liability.
Broker - Answers - One who represents the insured in arranging insurance. Typically
do not have binding authority.
Burglary - Answers - Unlawful removal of property from premises involving visible
forcible entry.
Businessowners Policy (BOP) - Answers - A package of property and liability
insurance for small and medium size businesses.
Flat Cancellation - Answers - The full premium is returned to the insured.
Pro-Rate Cancellation - Answers - The insurer has charged for the time the coverage
was in force.
Short Rete Cancellation - Answers - Entails a penalty in excess of pro-rate for early
termination.
Abandonment - Answers - Relinquishing of property and letting go of all legal rights
with the intent to claim a total loss.
Abandonment Clause - Answers - A property policy provision that stipulates that the
insurer need not accept any damaged property that the insured chooses to relinquish.
Absolute Liability - Answers - The performance of an act so dangerous as to be
sufficient to trigger liability regardless of the degree of negligence.
Accident - Answers - An unforeseen, unintended, and unexpected event, which occurs
suddenly and at a definite place.
Accounts Receivable Insurance - Answers - Pays for the cost of reconstructing
accounts receivable records that have been damaged or destroyed by a covered peril.
Action Over Claim - Answers - A demand by a third party in a subrogation action suing
for damages from the employer. (Worker's Compensation)
Actual Cash Value (ACV) - Answers - Placing value on a property as of the time of its
loss or damage.
Additional Living Expense Insurance - Answers - Provides payment for extra expenses
made necessary by the insured's inability to reside in the insured dwelling because of a
cover loss.
Adhesion Contract - Answers - Standardized set of agreements offered by one party to
another on a take it or leave it basis.
Admiralty Courts - Answers - Courts of law that deal with matters pertaining to the sea.
Admitted Company - Answers - An insurance company that is licensed to conduct
business within a given state.
Advertising Injury - Answers - Claim arising out of slander, libel, copyright infringement,
or misappropriation of advertising ideas.
Aggregate Limit - Answers - Maximum amount an insurer will pay under a policy in any
one policy period.
Alienated Premises - Answers - Property that has been sold by an insured.
Americans with Disabilities Act (ADA) - Answers - Passed by Congress in 1990,
requires that reasonable accommodation be made in public accommodations, including
the workplace for those with physical or mental disabilities.
, Apportionment - Answers - Dividing a loss between multiple insurers that cover the
same loss.
Arbitration Clause - Answers - An insurance policy that spells out how disagreements
over a claim are settled.
Assumption of Risk Doctrine - Answers - Defense against a negligence claim that bars
recovery for damages of a person understands and recognizes the danger inherent in a
particular activity or occupation.
Attractive Nuisance - Answers - Condition that can attract and injure children. The
occupants of land on which such a condition exists are liable for injuries to children.
Bailee - Answers - One who is charged with the care of the property of another.
Bailment - Answers - Delivering property in trust to another for a limited time and
specific purpose.
Bailor - Answers - The person delivering property to another in trust.
Barratry - Answers - Illegal acts committed willfully by a ship's master or crew for the
purpose of damaging the ship or cargo.
Betterment - Answers - The difference in the value of property before loss and after
restoration.
Blanket Coverage - Answers - Insuring various items of property under one limit of
liability.
Broker - Answers - One who represents the insured in arranging insurance. Typically
do not have binding authority.
Burglary - Answers - Unlawful removal of property from premises involving visible
forcible entry.
Businessowners Policy (BOP) - Answers - A package of property and liability
insurance for small and medium size businesses.
Flat Cancellation - Answers - The full premium is returned to the insured.
Pro-Rate Cancellation - Answers - The insurer has charged for the time the coverage
was in force.
Short Rete Cancellation - Answers - Entails a penalty in excess of pro-rate for early
termination.
