CLAIMS ADJUSTER EXAM
QUESTIONS AND ANSWERS
Peril-Package - Any policy which provides property & liability coverage (not homeowner)
ISO policy - Sold in Texas, but not Texas form
Only Texas DP 1 - Mainly the only TDP sold, now with plethora of endorsements
Texas Standard Fire Policy - Granddaddy of all Texas property policies
Business auto coverage e.g. - Owner of a taxi to cover collision damage
Inland Marine (build milk policy) would cover e.g. - 3k gallons of milk in tanker truck
Texas Standard, Standard Fire & Business Owner - Would all cover damage to
something like a gift card shop fire
Tx Personal Auto Policy e.g. - Owner of family far, for potential injury to other people
Trucker's policy - Trucking company, for potential damage to other people's trailers
which the trucking company may be pulling
Actual Cash Value (ACV) - Replacement cost less depreciation
Garage Liability e.g. - For valet parking service to have appropriate liability coverage it
needs what kind of policy?
Flood, workers comp, crop, costal wind among others - Types of casualty claims I will
be unable to handle under license I'm studying for
Ocean Marine Hull coverage - Would have to be written for an insured to cover potential
collision damage to insured's ship
Covered (if it's not written) - It's safe to assume that if something is not excluded in
writing it's appropriate to assume that the loss is?
15/15/5 rule - 15 calendar days to send notice you received claim
15 business days to resolve case
, 5 days to pay claim (if applicable)
Options for High Risk Drivers? - Texas started TAIPA
Risk pool
Minus PIP ($2,500)
Uninsured/underinsured motorist coverage - What does TAIPA provide?
When can you get TAIPA - Once you've been rejected by 2 or more insurance
companies
Commercial General Liability coverage - Covers basically any risk imaginable that
would "cause" bodily injury or property damage
E.g. Customer slip-fall; hit by debris; escalator lurching;poison get well card
Multi peril or package - Any policy that provides both property and liability coverage
ISO - A policy sold in Texas, but is not a Texas Policy form
How many Texas Dwelling policies are sold now? - ONE
TX Dwelling Form 1 - The dwelling policy sold in texas
Texas Standard Fire Policy is... - The granddaddy of all Texas property policies
E.g. Owner of a taxi who needs collision damage for his own taxi - Business auto e.g.
E.g. 3,000 gallons of milk in tanker truck - Inland Marine (Bulk Milk) e.g.
E.g.Fire damage to small greeting card shop (3 possible policies) - Texas Standard Fire,
Standard Fire, Business owner e.g.
Actual Cash Value (ACV) - What is replacement cost less depreciation?
Garage Liability - For valet parking service to have appropriate liability coverage... Need
what policy?
Types of claims I am unable to do without attaining other licenses? (Name at least 2) -
Flood
Workers comp
Crop
Coastal wind
Etc....
Ocean Marine Hull Coverage - Cover potential collision damage to insured's ship
QUESTIONS AND ANSWERS
Peril-Package - Any policy which provides property & liability coverage (not homeowner)
ISO policy - Sold in Texas, but not Texas form
Only Texas DP 1 - Mainly the only TDP sold, now with plethora of endorsements
Texas Standard Fire Policy - Granddaddy of all Texas property policies
Business auto coverage e.g. - Owner of a taxi to cover collision damage
Inland Marine (build milk policy) would cover e.g. - 3k gallons of milk in tanker truck
Texas Standard, Standard Fire & Business Owner - Would all cover damage to
something like a gift card shop fire
Tx Personal Auto Policy e.g. - Owner of family far, for potential injury to other people
Trucker's policy - Trucking company, for potential damage to other people's trailers
which the trucking company may be pulling
Actual Cash Value (ACV) - Replacement cost less depreciation
Garage Liability e.g. - For valet parking service to have appropriate liability coverage it
needs what kind of policy?
Flood, workers comp, crop, costal wind among others - Types of casualty claims I will
be unable to handle under license I'm studying for
Ocean Marine Hull coverage - Would have to be written for an insured to cover potential
collision damage to insured's ship
Covered (if it's not written) - It's safe to assume that if something is not excluded in
writing it's appropriate to assume that the loss is?
15/15/5 rule - 15 calendar days to send notice you received claim
15 business days to resolve case
, 5 days to pay claim (if applicable)
Options for High Risk Drivers? - Texas started TAIPA
Risk pool
Minus PIP ($2,500)
Uninsured/underinsured motorist coverage - What does TAIPA provide?
When can you get TAIPA - Once you've been rejected by 2 or more insurance
companies
Commercial General Liability coverage - Covers basically any risk imaginable that
would "cause" bodily injury or property damage
E.g. Customer slip-fall; hit by debris; escalator lurching;poison get well card
Multi peril or package - Any policy that provides both property and liability coverage
ISO - A policy sold in Texas, but is not a Texas Policy form
How many Texas Dwelling policies are sold now? - ONE
TX Dwelling Form 1 - The dwelling policy sold in texas
Texas Standard Fire Policy is... - The granddaddy of all Texas property policies
E.g. Owner of a taxi who needs collision damage for his own taxi - Business auto e.g.
E.g. 3,000 gallons of milk in tanker truck - Inland Marine (Bulk Milk) e.g.
E.g.Fire damage to small greeting card shop (3 possible policies) - Texas Standard Fire,
Standard Fire, Business owner e.g.
Actual Cash Value (ACV) - What is replacement cost less depreciation?
Garage Liability - For valet parking service to have appropriate liability coverage... Need
what policy?
Types of claims I am unable to do without attaining other licenses? (Name at least 2) -
Flood
Workers comp
Crop
Coastal wind
Etc....
Ocean Marine Hull Coverage - Cover potential collision damage to insured's ship
