Insurance MCQ

All of the following would be advantages to an insured or an insurer for purchasing or writing a Commercial Package policy, EXCEPT: Answer:  Packaging monoline policies together can provide broader coverage under each coverage part than purchasing the policies separately..

When must a Texas insurer notify a claimant of either the acceptance or rejection of a claim after receiving all of the requested items, statements, and forms requested from the claimant? Answer:  Not later than the 15th business day.

Which of the following is covered under Part A of the Personal Auto policy? Answer: Damage to the attached garage of a dwelling rented by the insured.

Which of the following statements is TRUE of Ocean Marine insurance? Answer: Ocean marine insurance policy forms are not standardized.

All of the following injuries occurring on the job would probably be deemed compensable, EXCEPT: Answer: A cerebral hemorrhage occurring at work and caused from years of high blood pressure.

Sarah is shopping at a grocery store and wants to purchase a bottle of juice. The aisle is marked off with a rope awaiting the clerk to clean up a previously broken bottle and spill on the floor. Sarah moves the rope to get the item and slips and falls on the floor, cutting her face on the scattered glass. Which of the following would be the defense that the insurance company would most likely use in this situation? Answer: Assumption of risk and contributory negligence on the part of the customer.

Widgets Warehouse has submitted a First Report of Injury to their workers' compensation insurance company for an injury sustained by one of their employees. After an investigation, the insurer has decided to deny the claim. Which of the following is true in this situation? Answer: The insurance company must forward to the injured employee an official written notice of denial.