6.20 All Lines Adjuster- Florida- Review of Quizzes (100% Verified with correct answers)

The deductible correct answers The dollar amount that the insured pays before the insurer is required to pay the remainder of the loss is known as? Replacement cost correct answers Which loss settlement provides new for old? the claims adjuster's role in the insurance industry includes correct answers Give appropriate legal advice and write binding contracts following are examples of a peril correct answers Lighting, Explosion and Fire The abandonment clause correct answers The clause that prohibits the insured from dumping damaged property on the insurance company and demanding to be paid in full is? Liberalization correct answers When a policy change results in broadened coverage with no additional premium, the insured automatically receives the benefit under the principle of? Risk correct answers The chance of financial loss is known as? Percentage correct answers Hurricane insurance in coastal areas in Florida is written subject to which of the following deductibles? Severability correct answers Insurance may apply separately to each insured, as if the other insureds did not exist. This is known as the doctrine of? The principle of proximate cause correct answers When there is an unbroken connection between an occurrence and the damage that arises from the occurrence, and all the resulting damage happened on account of that occurrence, this is known as? characteristics of a contract correct answers Consideration must be given to at least one party Primary correct answers When two or more policies apply to the same loss, the one that pays first is called? Mortgagee Clause correct answers The clause that protects the lender in a real property policy is the? Indemnity correct answers The concept that one should not profit from the payment provided by an insurance policy is known as? Property or first-party insurance correct answers Payment the insurance company makes directly to the insured is?