Georgia casualty and property questions and answers graded A+

Georgia casualty and propertyFor the reported losses of an insured group to become more likely to equal the statistical probability of loss for that particular class, the insured group must be - correct answer Larger What is the basis for a claim against an insurance policy? - correct answer Loss The right to seek recovery from a third party that was responsible for the loss is none as - correct answer Subrogation All of the following statements describe the concept of strict liability except - correct answer It is imposed on defendants engaged in hazardous activities An insured carries a property policy on her home in the amount of 250,000 a bank is shown as as the mortgager in the policy last month the insured made her final mortgage payment but did not remove the bank from her policy in the event to a covered loss in her home how much will the bank receive - correct answer Nothing What term includes damage where the insured peril was the proximate cause of loss - correct answer Direct loss Which of these is defined as the maximum limit of coverage available under a liability policy during a policy year regardless of the number of claims that may be made or the number of accidents that may occur - correct answer Aggregate limit of liability The policy provision found in property insurance policies that prevents the insured from collecting twice for the same loss called - correct answer Subrogation A man is working on the roof of his house and his neighbor is watching from the ground when roof shingles are thrown off the roof they hit the neighbor in the face injuring his eye which best the homeowners legal liability - correct answer Bodily injury