Compensatory damages Study guides, Class notes & Summaries

Inception/Expiration Date correct answers an insurance policy covers the insured starting at 12:01am on the day on which coverage begins and expires at 12:01am on the expiration day of the policy. Occurrence Date correct answers Date of which the loss occurred Identification of parties involved correct answers The loss report should include the names and addresses of the parties involved in the loss, the names and addresses of any injured person(s) and the names and addresses of any witnes...

AINS 102 (Latest 2023/ 2024 Update) Understanding Personal Insurance Exam | Questions and Verified Answers| 100% Correct| Grade A Q: Courtney drove her car home after spending an afternoon celebrating with some friends at a bar. She ran through a stop sign at a high speed and struck a van carrying a mother and two children. The van was totaled and all of the family members in the van were injured and hospitalized. The youngest child was severely injured and spent 3 months in the hospital and ...

Which of the following is correct regarding compensatory damages ? CORRECT ANSWER-compensatory damages pay a victim for his loss which of the following if any is correct regarding punitive damages? CORRECT ANSWER-punitive damages are designed to punish the wrongdoer and set an example for others which of the following is correct regarding international torts ? CORRECT ANSWER--a tort is civil wrong committed against an individual -one who commits a tort may be required to pay the medical ...

Property loss exposure ️ A condition that presents the possibility that a person or an organization will sustain a loss resulting from damage (including destruction, taking, or loss of use) to property in which that person or organization has a financial interest. Real property (realty) ️ Tangible property consisting of land, all structures permanently attached to the land, and whatever is growing on the land. Personal property ️ All tangible or intangible property that is not real ...

CAIB 3 Practice Exam Questions with Complete Solutions 100% Verified Answers What is the name given to the collection of written decisions? - Correct Answer Case Law Explain the concept of the Rule of Precedent. - Correct Answer Current court decisions must follow those made in cases having similar circumstances, which allows the development of a logical body of general principles against which specific cases to be compared. Explain the meaning of the term "damages". - Correct Answer Co...

GEORGIA PROPERTY & CASUALTY INSURANCE EXAM Prep (Latest 2024/ 2025 UPDATE) QUESTIONS AND VERIFIED ANSWERS| 100% CORRECT| GRADE A Q: Which insurance principle states that if a policy allows for greater compensation than the financial loss incurred, the insured may only receive benefits for the amount lost? Answer: Indemnity Q: legal process that gives the insurer, after payment of a loss, the right to seek recovery from a third party that was responsible for the loss Answer:...

Can a patient successfully sue a doctor if there is no physician-patient relationship? – ANSWER No If there is no prior physician-patient relationship, are you legally obliged to respond to a call from a patient for treatment? – ANSWER No Does being on call give rise to a physician-patient relationship? – ANSWER No How can one terminate a physician-patient relationship, without abandonment if there is ongoing treatment? – ANSWER 30 days written notice; must provide fo...

CAIB 3 Chapter 1 Questions with Verified Solutions Identify the two divisions in the Canadian Legal System Criminal Law Civil Law Should brokers always recommend clients questions concerning maters of law to a qualified legal practitioner? Yes Identify eight examples of criminal wrongs Certain uses of an automobile Possession and trafficking of drugs Murder Voluntary manslaughter Burglary, robbery and theft Price fixing Pollution of the air and water False advertising I...

What is the name given to the collection of written decisions? Case Law Explain the concept of the Rule of Precedent. Current court decisions must follow those made in cases having similar circumstances, which allows the development of a logical body of general principles against which specific cases to be compared. Explain the meaning of the term "damages". Compensation in money for the loss or damage suffered. Compensatory damages for bodily injury are an amalgamation of general and sp...

CAIB 3 Practice Exam Questions and Answers Already Passed What is the name given to the collection of written decisions? Case Law Explain the concept of the Rule of Precedent. Current court decisions must follow those made in cases having similar circumstances, which allows the development of a logical body of general principles against which specific cases to be compared. Explain the meaning of the term "damages". Compensation in money for the loss or damage suffered. Compen...