- Study guides, Class notes & Summaries

Physical Hazard - circumstance that increases the likelihood a probable severity of a loss. For example, the storing of explosives in a home basement Loss - the experienced reduction of value, partial or complete, for which an insured places a claim with the insurance company Direct Loss - property loss in which the insured peril is the proximate cause (an unbroken chain of events) of the damage or destruction Indirect Loss - loss that is not a direct result of a peril. For example, damage...

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12 pages

Written in 2024/2025

Grade A+

TUTORJOEL

NJ Public Adjustment review Exam 114Questions and Answers (Latest Update 2024)NJ Public Adjustment review Exam 114Questions and Answers (Latest Update 2024)NJ Public Adjustment review Exam 114Questions and Answers (Latest Update 2024)

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22 pages

Written in 2023/2024

Grade A+

nursingtutor01

Hostile Fire - unfriendly fire not confined to its normal habitat. For example, fire in the fireplace leaps onto the sofa Actual Cash Value - cost of replacing damaged or destroyed property with comparable new property, minus depreciation Replacement Cost Value - sum it takes to replace an insured's damaged or destroyed property with one of like kind and quality Automatic Restoration of Limits - provision in a property or liability policy stating that after a loss has been paid, the to...

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9 pages

Written in 2024/2025

Grade A+

TUTORJOEL

NJ Public Adjustment review Exam 114Questions and Answers (Latest Update 2024)NJ Public Adjustment review Exam 114Questions and Answers (Latest Update 2024)NJ Public Adjustment review Exam 114Questions and Answers (Latest Update 2024)

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22 pages

Written in 2023/2024

Grade A+

Bestsellernursing001