TN Casualty Insurance Exam Quiz Questions Review Replacement cost is defined as - Correct Answers ✅Full replacement of property at its current cost, new and without reduction for depreciation.The policy conditions define - Correct Answers ✅How parties to the contract must act following a loss All of the following are considered parts of the policy structure EXCEPT - Correct Answers ✅Provisions What type of information would be found in a policy's insuring agreement? - Correct Answers ✅Renewal dates Which of the following is a method of claim settlement used in casualty insurance when the insured & insurer cannot agree on how to settle a claim? - Correct Answers ✅Arbitration In a personal umbrella policy, the amount paid by the insured for certain losses not covered under the primary coverage is called - Correct Answers ✅self insured retention the type of professional liability coverage a medical doctor needs is - Correct Answers ✅malpractice coverage 1 / 2
TN Casualty Insurance Exam Quiz Questions Review what is the deductible of a commercial liability umbrella policy called? - Correct Answers ✅the SIR which of the following liability policies is usually written on the "claims made" form? - Correct Answers ✅professional liability insurance A cereal company shipped some of its product in faulty containers that caused spoilage that resulted in consumers becoming ill. If the company is sued for this event, it would be an example of a - Correct Answers ✅product liability claim what is not a factor in rating workers compensation insurance
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if a person is using an auto with the belief that he is entitled to do so, subrogation rights under a personal auto policy would apply to all coverages except - Correct Answers ✅physical damage which professional liability form provides coverage for liability arising out of errors or mistakes made in rendering medical services? - Correct Answers ✅physicians, surgeons & dentist malpractice