Papersbyjol

GLO-BUS is an online exercise where you will run a company that is racing for global market leadership in two product categories: - ANSWER- Wearable (and mountable) video cameras (like GoPro) - Camera-equipped copter drones suitable for a variety of commercial purposes. Each decision period in GLO-BUS represents a year. - ANSWER You will be selling and shipping products on a worldwide basis: in North America, Asia-Pacific, Europe-Africa, and Latin America. - ANSWERBut your company owns on...

1. All states stipulate in their laws that benefits are payable only after a waiting period following the report of disability. About how many days is it and what does it apply to? - ANSWERAbout 7 Days & Applies only to cash indemnity payments and NOT to Medical and Hospital. 2. What can an employer do to reduce or control the costs associated with workers' compensation? What is the relative effectiveness of each one? - ANSWERPrevent injuries. When injuries do occur, manage your claims acc...

A producer is proposing that a policyowner replace an existing individual health insurance policy with a new one. Under the new contract, a pre existing conditions exclusion - ANSWERmay reduce the insured's benefits the free look period for long term care insurance policies in new hampshire is _____ days - ANSWER30 who determines workers compensation eligibility rules? - ANSWERstate of new hampshire in new hampshire, false advertising is an example of - ANSWERmisrepresentation whi...

Workers' compensation laws are _____________ in every state. - ANSWERCompulsory Compulsory - ANSWEREmployers are required to comply with state workers' compensation laws and must purchase a workers' compensation insurance policy Employers in ___________ states have the option to enroll in the workers' compensation system and may elect NOT to purchase a workers' compensation insurance policy - ANSWERElective (Texas is the only elective state) Policy Providers - ANSWER- In...

Workers' Compensation Insurance - ANSWERInsurance providing a form of coverage which provides protection for employees injured as a result of their employment Rehabilitation/Restoration Benefits - ANSWERBenefits that aid injured worker to recuperate faster (and helps employer since injured employee will return to work faster) Part II Coverages - ANSWERCare & loss of services, third party-over, consequential BI, and dual capacity Workers' Compensation Policy Parts - ANSWERPart I (W...

Insurance Commissioner - ANSWERPowers specifically granted, appointed by governor, term of office for 5 years, files annual reports before nov 1, regulates insurer solvency, power to suspend or revoke licenses termination of appointment - ANSWERinsurer can terminate producer, must notify commissioner within 15 days of effective date process to get producer license - ANSWER18, not committed any act that is ground for suspension, paid correct fees, passed exam insurance producer - ANSWERp...

How many years is the Commissioner's term of office? - ANSWER5 years The Commissioner must examine an insurer at least once every __ years. - ANSWER5 years Lapsed licenses must be reinstated within _ months upon payment of fees and completion of CE credit hours. - ANSWER24 months or 2 years. name, address and contact change must be reported within __ days - ANSWER30 days Time frame to report administrative actions or criminal prosecutions to the Commissioner - ANSWER30 days Tot...

According to the conditions of a workers compensation policy the insurer has the right to inspect the insured work place - ANSWERat any time Under the workers compensation system, who is responsible for the expenses resulting from work-related injuries and occupational disease? - ANSWERThe employer, regardless of whether it was at fault for the injury or disease. Workers compensation statutes require employers to meet to capital reserves requirement sufficient to play any claims that mig...

A disability that prevents an employee from doing any work during the period of disability, but from which the employee is expected to recover, is known as a: A. Temporary partial disability B. Permanent total disability C. Temporary total disability D. Permanent partial disability - ANSWERC. Temporary total disability When calculating the final premium for a Workers' Compensation and Employers Liability policy, which factor represents the insured's claims history, as compared to ...

In New Hampshire, once the insurer has received the proof of Loss, how long does it have to pay a fire insurance claim? A. 60 days B. One week C. 48 hours D. 45 days - ANSWERA. 60 days When paying a claim, the insurer should always include: A. a complete copy of the entire claim file. B. a statement releasing the insurer from any further obligation. C. contact information for an arbitrator in case the claimant disagrees. D. an explanation of the amount and the coverage prov...

5 - ANSWERWhat is the maximum number of roomers or boarders for properties insured under the dwelling policy? Insureds cannot be randomly selected. - ANSWERWhich statement regarding insurable risks is NOT correct? No more than the per occurrence limit applies, no matter how many insureds are involved. - ANSWERSeveral insureds have become liable because of a single loss. How will the policy's limit of liability be affected? General liability written with an aggregate limit - ANSWERWhi...

Joe's 21-pound cat runs into the neighbor's yard and severely scratches the neighbor's arms and face. Which of the following would respond to the neighbor's emergency room bills? - ANSWERJoe's homeowners policy under the Personal Liability section Bob is purchasing a commercial property policy to cover contents of a building valued at $100,000. The policy includes an 80 percent coinsurance clause. To avoid a coinsurance penalty in the event of a partial loss, Bob should purchas...

Surety bonds are written for a definite limit called - ANSWERThe bond of penalty Replacement cost is defined as - ANSWERFull replacement of property at its current cost, new and without reduction for depreciation All of the following statements concerning coinsurance are true EXCEPT - ANSWERThe coinsurance formula will also be applied to total losses. All of the following statements regarding a boatowners policy are true EXCEPT - ANSWERReplacements for the boat listed in the Declaration...

Fair Credit Reporting Act - ANSWERProtects consumers by requiring that the consumer be notified in certain situations and by establishing provisions for the removal of outdated and incorrect information. Fraud and False Statements - ANSWERanyone engaged in the insurance business who makes a false material statement or report or willfully and materially overvalues any land, property, or security in connection with financial reports or documents presented to an insurance regulatory official or ...

Licensing - ANSWERThe purpose of licensing is to ensure that all individuals transacting insurance are suitable and will act in good faith. Licenses remain valid until cancelled, expired, or revoked. They must be renewed every two years. A business entity that is acting as an insurance producer must be .... - ANSWERlicensed Before approving the application for license, the Commissioner must find that the entity has: - ANSWERPaid the appropriate fees & designated a licensed producer respons...

According to the text, workers' compensation costs are equivalent to what percentage of a company's payroll? - ANSWER20%-30% what is meant by the term "no fault" relative to workers' compensation? - ANSWERThe employer agrees to pay for all injuries to employees regardless of whose fault, and in turn, the employee gives up their right to sue the employer in relation to the on-the-job injury What are the objectives of workers' compensation, as discussed in class? - ANSWER1....

How are level term policies able to provide level premiums? - ANSWERPremiums are averaged over the term of the policy ABC Company is attempting to minimize the severity of potential losses within its company. The company is engaged in risk - ANSWERreduction An organization that requires healthcare services to be provided by a network of physicians and hospitals is known as a(n) - ANSWERHMO Christine is receiving benefits provided from her disability income insurance. As compared to her ...

What important legal concept was introduced by the workers' compensation system? A) Common law liability B) Negligence C) Personal liability D) No-fault liability - ANSWERD) No-fault liability Which of the following statements are CORRECT? A)Disability, medical, survivor, and rehabilitation benefits are included in all workers compensation laws. B) Neither statement is correct. C) Both statements are correct. D)Actual details of the provisions regarding workers' compensation benefits ar...

15-8 Cases - ANSWER§15-8 is a section of the NYS WC law relating to disability following previous permanent physical impairment. §15-8 no longer applies for loss dates after June 30, 2007. 25-A Cases - ANSWER§25-A is a section of the NYS WC law that applies to cases closed (NFA), in which the date of accident is more than seven (7) years ago, and in which the date of the last indemnity payment is more than three (3) years ago. If the WCB establishes 25-A, then medical and indemnity payment...

What does the term "comparative negligence" refer to? The percentage of fault is shared by each driver in an accident in which both contribute to causing the accident. The one who is most negligent receives no payment when the claim is settled. The one who is the least negligent receives no payment when the claim is settled. If both parties have contributed to causing the accident, neither party receives any payment when the claim is settled. - ANSWERThe percentage of fault ...