Watercraft liability and aircraft liability are excluded under commercial general liability (CGL) policies primarily to

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Watercraft liability and aircraft liability are excluded under commercial general liability (CGL) policies primarily to

A.Eliminate duplicate coverage.
B.Avoid covering uninsurable losses.
C.Keep premiums reasonable.
D.Avoid insuring losses that could be prevented.

Answer: A. Eliminate duplicate coverage.

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

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Hannah is six months pregnant when she switches jobs. Which law ensures that Hannah's "pre-existing condition" will be covered under her new health insurance plan?

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The pro rata liability clause is designed to protect the principle of
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A domestic insurer issuing variable contracts must establish one or more
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Which of the following best defines target premium in a universal life policy?
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In an insurance contract, the applicant's "consideration" is the
Agents may be found guilty of defamation if they make a false statement that is intended to?
How many pair of glasses in a 12-month period will a vision expense insurance plan cover?
The voluntary relinquishment of a legal right is called
What documentation grants express authority to an agent?
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All of the following statements are true regarding installments for a fixed amount EXCEPT
Fraternal Benefit Society has each of the following characteristics EXCEPT
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The authority granted to a licensed producer is provided via the
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What is the benefit of choosing extended term as a nonforfeiture option?
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All of the following statements concerning dividends are true EXCEPT:
All of the following are true regarding rebates EXCEPT
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All of the following are elements of an insurance policy EXCEPT
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All of the following are true of key person insurance EXCEPT
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Life income joint and survivor settlement option guarantees
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What is the other term for the cash payment settlement option?
What documentation grants express authority to an agent?

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