LA Claims Adjuster Property and Causality Practice Exam 2 Correct 100%

A single Declarations page common to all coverages A single conditions section common to all coverages - ANSWERSA commercial package policy always includes Send the insured a reservation of rights letter - ANSWERSIf the insured fails to report claim in a timely fashion, the adjuster will immediately ___ $1000 per person - ANSWERSThe basic limit for coverage F-medical payments of the standard homeowners form is normally $250 - ANSWERSThe CGL provides up to ___per day for loss of earnings as a supplementary payment Was made for the benefit of the insurance company and does not warrant the insureds compliance with all laws and regulations - ANSWERSThe insurance company chooses to inspect the insureds premises, the insurance inspection: 60 days. - ANSWERSWhen is loss payable under LA standard fire policy? 30 days - ANSWERSWhen an insurer has received a completed satisfactory proof of loss, how many days does the insurer have to pay the loss expediting expense coverage - ANSWERSname the coverage that applies to the extra cost the insured incurs to make temporary repairs and speed up the permanent repairs replacement of damage covered equipment under an equipment breakdown policy Until the repairs are complete and the business re-opens, subject to a 12 consecutive month limitation - ANSWERSHow long will the business owner policy pay for the "extra expense coverage" used to reduce the loss of income when the insured has suffered a loss from a covered peril handled as a supplementary payment - ANSWERSTypically how are defense cost handled under aviation policy additional living expenses is included in this coverage as well as fair rental value - ANSWERSunder the HO policy, loss of use would cover what 60 days prior to the effective date - ANSWERSDwelling forms include a liberalization clause. it says that any revision of coverage which broadens the insurance without an additional premium charge will be automatically applied to existing policies if the revision adopted during the policy period or within