I. FAIR plans make property insurance coverage available for exposures located in areas underserved by the voluntary market. II. FAIR plans are uniform in methods of operation and products offered in all states. III. FAIR plans require covered property to ...

Chip is a volunteer worker at his church’s mid-week adult daycare facility. He accidentally spilled hot coffee on one of the elderly participants, Mary. After being treated for third-degree burns, Mary sued both the church and Chip for damages resulting ...

I. It extends workers’ compensation coverage for types of employment typically exempt from statutorily mandated coverage. II. It allows the employer to have the insurer pay benefits in excess of those required by statute in cases of severe work-related injuries.

(A) Premium auditing is the verification of premium information included on an insurer’s financial statements. (B) Premium auditing is a methodical examination of the insured’s operations, records, and books of account to determine the actual exposure units and premiums for ...