Insurance: Property
What is fraud in insurance? Give some examples.
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What is the difference between a stock company and a mutual company?
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When studying groups, what happens to predictability when the size of the group increases?
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Which type of authority is not expressed or written into the contact, but which the agent is assumed to have in order to transact the business?
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Which type of authority is not expressed or written into the contract, but which the agent is assumed top have in order to transact the business?
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Who regularly publishes guides to insurance companies' financial integrity?
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Fraternal Benefit Society
A not for profit incorporated society formed solely for the benefit of its members and their beneficiaries.
How is an insurance company able to protect such a large number of people who could potentially suffer a loss?
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Can a person who has been found guilty of fraud work in insurance?
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Describe the concept of consideration on the part of an insured and how it differs from consideration on the part of an insurer.
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Explain the concept of reasonable coverage expectations.
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How are insurance companies classified?
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How do the courts treat ambiguous contracts?
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If the insured intentionally answers any questions on the application for insurance untruthfully, and the information material to the insurance, what of statements are these? Can they void a contract?
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What are the most common types of insurers?
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What are the types of agent authority?
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What does indemnify mean?
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What does representation mean and how does it differ from a warranty?
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What is an exclusive agency system?
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What is difference between an admitted and non-admitted insurer?
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What is express authority?
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Explain the concept of adverse selection.
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