To be eligible to establish a self insurance program and employer must:

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To be eligible to establish a self insurance program and employer must:

:have a tangible net worth of at least $____ and
:post a bond of not less than $_____ or 105% of the employer's expected annual cost of claims

Answer:

$2.5M
$100,000

Insurance Law

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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?

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A domestic insurer issuing variable contracts must establish one or more
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A beneficiary change can occur
No existing agent's license will be revoked until
Which of the following statements about aleatory contracts is NOT true?
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In an insurance contract, the applicant's "consideration" is the
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The voluntary relinquishment of a legal right is called
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