Description

1. Transferring the risk to an insurance company is known as what?: Insurance 2. When the insured request to have the company change a condition or provision in an insurance policy the document attach to the policy is referred to as what?: Endorsement 3. George and Sandy only home which was damaged by fire who has insurable interest: George and Sandy 4. What is the most common loss settlement valuation in the property poli- cies?: Actual cash value 5. The insurance company pays the insured for damages that should have been collected from the app fault party now the insured right to seek damages from the airport party are transferred to his insurance company what best describes this concept: Subrogation 6. PIP: Personal Injury Protection 7. Pip coverage is: Primary 8. Tort Immunity: Relief for persons who have suffered harm from the wrongful acts of others 9. Extend PIP: To fill percentage gaps 10. Additional PIP increases limits to...: Increase dollar limit only 10,000 to 25,000 or more 11. Under Florida law what are the benefits payable for medical expenses: 80% 12. Under Florida law what are the benefits payable for lost wages: Up to 60% 13. Death benefits: 5,000 14. Deductibles are how much: $250,$500,$1000 15. Cease to defend: Limits exhausted by payment 16. Before an owner of a vehicle can't obtain a license plate and tag regis- tration the owner must purchase PIP coverage in property damage liability coverage in the amount of: $10,000 17. When will the individuals be requested to prove they are financially capable three different times: At the time of an accident ( 2 )a major traffic violation and (3) an insurance vehicle is used in a felony 18. The minimum liability limits bar: 10/20/10