Insurers and claim representatives must keep the promises specified in insurance
policies, as well as those created by the law. In insurance transactions, the insured
pays a premium for the insurer's promise to
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Handle claims in good faith.
Through data mining, Goshen Mutual discovers that customers who insure two or
more vehicles on a personal auto policy are very likely to buy a personal umbrella
policy. Algorithms are then used to identify potential customers who might be
interested in purchasing both personal auto and umbrella policies. Which one of the
following data mining techniques did Goshen Mutual use?
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, Association rule learning
Which one of the following elements of a policy can include coverage that is
otherwise excluded, exclude coverage that is otherwise included, or add or delete
insureds?
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An endorsement.
Cristobal is negotiating a settlement with a claimant attorney in a workers
compensation claim. The attorney has requested 200 weeks of benefits, which was
more than Cristobal was hoping to pay. Cristobal countered with an offer to pay the
200 weeks if the worker would sign an agreement to resign his position and to never
reopen the claim. Cristobal's negotiation strategy is an example of
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Making concessions cautiously.
While staff claims representatives may have a variety of titles, the role is typically
defined by two things: having a primary focus on claims and
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Being an employee of the insurer.
, As a claims representative, Joshua frequently requests proofs of loss and affidavits,
and conducts examinations under oath and recorded statements. Which one of
Joshua's sworn statements is administered by the insurer's attorney at the office of the
insurer, attorney, or court reporter?
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Examination under oath.
Erin helps her employer, a multi-line insurer, to determine actual exposure and
premium for coverage. She does this by conducting detailed examinations of
policyholder operations, records, and accounting. Erin is a(n)
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Premium Auditor
Maja handled a large liability claim that settled above the policy limits. The insured is
now charging the claim was handled in bad faith. During their investigation of the
bad-faith claim, Maja and defense counsel discovered that the claimant had received
the payment from the insurer, but not the amount above the policy limits that was to
come from the insured's assets. Which one of the following defenses would Maja's
defense most likely invoke?
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Insured's collusion with the claimant.
policies, as well as those created by the law. In insurance transactions, the insured
pays a premium for the insurer's promise to
Give this one a try later!
Handle claims in good faith.
Through data mining, Goshen Mutual discovers that customers who insure two or
more vehicles on a personal auto policy are very likely to buy a personal umbrella
policy. Algorithms are then used to identify potential customers who might be
interested in purchasing both personal auto and umbrella policies. Which one of the
following data mining techniques did Goshen Mutual use?
Give this one a try later!
, Association rule learning
Which one of the following elements of a policy can include coverage that is
otherwise excluded, exclude coverage that is otherwise included, or add or delete
insureds?
Give this one a try later!
An endorsement.
Cristobal is negotiating a settlement with a claimant attorney in a workers
compensation claim. The attorney has requested 200 weeks of benefits, which was
more than Cristobal was hoping to pay. Cristobal countered with an offer to pay the
200 weeks if the worker would sign an agreement to resign his position and to never
reopen the claim. Cristobal's negotiation strategy is an example of
Give this one a try later!
Making concessions cautiously.
While staff claims representatives may have a variety of titles, the role is typically
defined by two things: having a primary focus on claims and
Give this one a try later!
Being an employee of the insurer.
, As a claims representative, Joshua frequently requests proofs of loss and affidavits,
and conducts examinations under oath and recorded statements. Which one of
Joshua's sworn statements is administered by the insurer's attorney at the office of the
insurer, attorney, or court reporter?
Give this one a try later!
Examination under oath.
Erin helps her employer, a multi-line insurer, to determine actual exposure and
premium for coverage. She does this by conducting detailed examinations of
policyholder operations, records, and accounting. Erin is a(n)
Give this one a try later!
Premium Auditor
Maja handled a large liability claim that settled above the policy limits. The insured is
now charging the claim was handled in bad faith. During their investigation of the
bad-faith claim, Maja and defense counsel discovered that the claimant had received
the payment from the insurer, but not the amount above the policy limits that was to
come from the insured's assets. Which one of the following defenses would Maja's
defense most likely invoke?
Give this one a try later!
Insured's collusion with the claimant.
