8/4/25, 9:39 PM AINS 102: Understanding Personal Insurance Flashcards | Quizlet
AINS 102: Understanding Personal Insurance
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Practice questions for this set
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A payment awarded by a court to reimburse a victim for actual harm.
Choose an answer
Punitive damages (exemplary
1 Criminal law 2
damages)
3 Compensatory damages 4 Deductible
Don't know?
Terms in this set (62)
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, 8/4/25, 9:39 PM AINS 102: Understanding Personal Insurance Flashcards | Quizlet
An alternative dispute resolution (ADR) method by
which disputing parties use a neutral outside party to
Arbitration
examine the issues and develop a settlement, which
can be final and binding.
Attachment The act of seizing property to secure a judgment.
Catastrophe A single event that causes widespread losses.
A classification of law that applies to legal matters not
governed by criminal law and that protects rights and
Civil law
provides remedies for breaches of duties owed to
others.
A payment awarded by a court to reimburse a victim
Compensatory damages
for actual harm.
Law that requires the owners or operators of
Compulsory auto automobiles to carry automobile liability insurance at
insurance law least equal to certain minimum limits before the
vehicle can be licensed or registered.
The branch of the law that imposes penalties for
Criminal law
wrongs against society.
Selling new types of insurance products to existing
Cross-selling
clients.
Money claimed by, or a monetary award to, a party
Damages who has suffered loss or injury for which another party
is legally responsible.
A portion of a covered loss that is not paid by the
Deductible
insurer.
Law enacted to ensure that motorists have the
Financial responsibility financial ability to pay for any property damage or
laws bodily injury they might cause as a result of driving or
owning an auto.
First party The insured in an insurance contract.
https://quizlet.com/1063892091/ains-102-understanding-personal-insurance-flash-cards/?new 2/8
AINS 102: Understanding Personal Insurance
Save
Practice questions for this set
Learn 1 /7 Study with Learn
A payment awarded by a court to reimburse a victim for actual harm.
Choose an answer
Punitive damages (exemplary
1 Criminal law 2
damages)
3 Compensatory damages 4 Deductible
Don't know?
Terms in this set (62)
https://quizlet.com/1063892091/ains-102-understanding-personal-insurance-flash-cards/?new 1/8
, 8/4/25, 9:39 PM AINS 102: Understanding Personal Insurance Flashcards | Quizlet
An alternative dispute resolution (ADR) method by
which disputing parties use a neutral outside party to
Arbitration
examine the issues and develop a settlement, which
can be final and binding.
Attachment The act of seizing property to secure a judgment.
Catastrophe A single event that causes widespread losses.
A classification of law that applies to legal matters not
governed by criminal law and that protects rights and
Civil law
provides remedies for breaches of duties owed to
others.
A payment awarded by a court to reimburse a victim
Compensatory damages
for actual harm.
Law that requires the owners or operators of
Compulsory auto automobiles to carry automobile liability insurance at
insurance law least equal to certain minimum limits before the
vehicle can be licensed or registered.
The branch of the law that imposes penalties for
Criminal law
wrongs against society.
Selling new types of insurance products to existing
Cross-selling
clients.
Money claimed by, or a monetary award to, a party
Damages who has suffered loss or injury for which another party
is legally responsible.
A portion of a covered loss that is not paid by the
Deductible
insurer.
Law enacted to ensure that motorists have the
Financial responsibility financial ability to pay for any property damage or
laws bodily injury they might cause as a result of driving or
owning an auto.
First party The insured in an insurance contract.
https://quizlet.com/1063892091/ains-102-understanding-personal-insurance-flash-cards/?new 2/8
