6.20 All Lines Adjuster- Florida- Review of Quizzes with Complete Solutions 2024/2025

6.20 All Lines Adjuster- Florida- Review of Quizzes with Complete Solutions 2024/2025 The deductible - Correct Answer 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 Answer Which loss settlement provides new for old? the claims adjuster's role in the insurance industry includes - Correct Answer Give appropriate legal advice and write binding contracts following are examples of a peril - Correct Answer Lighting, Explosion and Fire The abandonment clause - Correct Answer The clause that prohibits the insured from dumping damaged property on the insurance company and demanding to be paid in full is? Liberalization - Correct Answer When a policy change results in broadened coverage with no additional premium, the insured automatically receives the benefit under the principle of? Risk - Correct Answer The chance of financial loss is known as? Percentage - Correct Answer Hurricane insurance in coastal areas in Florida is written subject to which of the following deductibles? Severability - Correct Answer 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 Answer 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 Answer Consideration must be given to at least one party