Texas all line adjuster study guide with answers 2024

Texas all line adjuster study guideworkman's compensation - correct answer No fault insurance for employee that are injured on the job Employer's liability coverage - correct answer Covers an employer’s liability for common lawsuits from employees to recover damage from job related injuries. Permanent Total Disability - correct answer Complete and permanent loss of being able to earn money. Example- Complete loss of sight or losing both hands or feet. Permanent Partial Disability - correct answer Permanent physical impairment that leaves employee unable to perform original job but other jobs can be performed. Temporary Total Disability - correct answer Total disability that lasts a short period of time. Employee can return to work. Example- Strained back Temporary Partial Disability - correct answer A temporary disablement that allows employee to continue the same job but with reduced capability. Example- sprained ankle Disability of Benefits - correct answer Compensation for loss of income or earnings due to an injury at work. How and what benefits are paid depends on the severity and permanency of the injury Medical Benefits - correct answer Pays for medical treatment for an on the job injury Survivor Benefits - correct answer To compensate the widowed spouse or survivor of an employee who's death was resulted from a job injury. Amounts of benefits depends on the deceased employees earnings and the number of surviving dependents. A fixed amount is available for burial expenses. Benefits continue until surviving spouse remarries or children enter adulthood. Rehabilitation Benefits - correct answer Not specifically named in some state workmans comp law. Rehabilitation is provided in every state since all accept provisions of the Federal Rehabilitation Act which provides federal aid towards the benefit costs incurred. Elective - correct answer Both the employer and employee have the option of either accepting or rejecting the law. Compulsory - correct answer The employer must accept and comply with all provisions of the law Longshoreman's and Harbor Workers compensation Act - correct answer A federal law protecting workers in an occupation related to maritime industry Federal Black Lung Benefits Act - correct answer Provides compensation to coal miners who are totally disabled by pneumoconiosis Federal Employees Compensation Act - correct answer Provides federal employees with workmans compensation Federal Employers Liability Act - correct answer To protect and compensate railroad workers, but the injured worker must prove the injury was caused by whole or in part by negligence of a railroad employee, its agent or contractor, or from faulty equipment. How are Premiums based - correct answer Depends on the type of business, number of employees and total payroll. Underwriting - correct answer The process an insurance company uses to decide whether to accept or reject an application for a policy. They evaluate the risk and exposures of potential policyholders. They decide how much they should pay for it, or whether even to accept the risk to insure them. Peril - correct answer A cause of property losses. Examples- Fire/lightning, explosion, windstorm, hail, collapse of building, vandalism, accidental discharge and theft. Hazard - correct answer A situation that poses a level of threat to life, health, property, or environment. Direct Loss - correct answer Direct physical loss to property