FINAL EXAM INSURANCE@@
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Premiums collected on behalf of the insurance company by an agent will be held in what capacity?
Fiduciary
Using an air-cooled engine, a proposed insured has developed a new, experimental aircraft. If the inventor applies for liability insurance, what rating type will the insurer most likely use?
Judgment
Property insurance that provides $100,000 coverage for a building and $50,000 coverage for personal property at a single location is called
1. Blanket coverage.2. Described coverage.3. Specific coverage.4. Schedule coverage. A: Specific coverage
The Businessowners policy (BOP) extension coverage form for personal property off-premises is limited to
5000