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Under which type of auto insurance arrangement are all auto insurers in a state required to issue policies and service their proportionate share of high-risk drivers based on the insurer’s auto insurance premium written in the state?
(B) Automobile insurance plan.
(B) Automobile insurance plan.
See lessWhich of the following is the basic argument in favor of no-fault auto insurance systems currently used in the United States?
(D) No-fault systems settle auto claims more quickly at a lower cost. The basic argument in favor of no-fault auto insurance systems currently used in the United States is no-fault systems settle auto claims more quickly at a lower cost.
(D) No-fault systems settle auto claims more quickly at a lower cost.
The basic argument in favor of no-fault auto insurance systems currently used in the United States is no-fault systems settle auto claims more quickly at a lower cost.
See lessWhich of the following is the traditional and most commonly used system for compensating victims of auto accidents?
(C) Tort liability system. The tort liability system is the traditional and most commonly used system for compensating victims of auto accidents.
(C) Tort liability system.
The tort liability system is the traditional and most commonly used system for compensating victims of auto accidents.
See lessWhich of the following reinsurance programs is best suited for a primary insurer experiencing rapid premium growth in its personal auto insurance line of business?
(E) Per occurrence excess of loss treaty reinsurance.
(E) Per occurrence excess of loss treaty reinsurance.
See lessWhich of the following is true regarding a facultative reinsurance contract?
(B) The primary insurer must negotiate a separate agreement for each loss exposure it wants to reinsure.
(B) The primary insurer must negotiate a separate agreement for each loss exposure it wants to reinsure.
See lessWhich of the following is NOT a reason why reinsurance is purchased?
(B) Reinsurance reduces the number of claims incurred.
(B) Reinsurance reduces the number of claims incurred.
See lessIn settling the claim, which step would NOT be followed by the insurer’s representative?
(D) Determine if the loss occurred during the policy period.
(D) Determine if the loss occurred during the policy period.
See lessWhich of the following causes of loss are common carriers liable for when a shipper’s goods are damaged?
(B) By theft while the property is in the care, custody, and control of the carrier.
(B) By theft while the property is in the care, custody, and control of the carrier.
See lessWhich of the following potential claimants does NOT have an insurable interest in did property damage or destroyed by a covered cause of loss?
(A) An unsecured creditor of the property owner.
(A) An unsecured creditor of the property owner.
See lessWhich of the following should a claim representative do when deciding how thoroughly to investigate a claim?
(A) Be sure the investigation has been thorough enough to satisfy a judge and jury that good faith claim handling procedures have been followed.
(A) Be sure the investigation has been thorough enough to satisfy a judge and jury that good faith claim handling procedures have been followed.
See less