P&C Nebraska Money, Dates, Numbers

Fire Department Service Charge

pays up to $500 for service call to fire dept

What is the standard deductible that applies to all property coverages except fair rental value and additional living expense?

$250

Max (aggregate) fine for engaging in multiple unfair trade practices (if willful and flagrant)

$30,000 ($150,000)

Motor Carrier Act of 1980 states minimum coverage of transportation of specifically defined hazardous property, explosives, gas, radioactive material is

$5 Million

Fine for first fraud claim violation

$5,000

Coverage on grave markers or mausoleums by insured peril on or off premisis

$5,000 (does not increase limits of liability that would apply to damaged covered property)

Max fine for violation of Insurance code (in addition to or instead of suspension, revocation, probation, or denial of license)

$500

Loss or damage to lawns, trees, shrubs, and plants are covered up to ___ each under DP-2 and HO

$500, maximum 5% of coverage on dwelling

Motor Carrier Act of 1980 states minimum coverage of transportation of nonhazardous property is

$750,000

Coinsurance formula

(amount of insurance carried/amount of insurance required) x loss = amount of recovery

__ advance notice is required if policy is canceled for nonpayment of permium or any other reason within the first __ days of coverace

10 days; 60 days

If a producer allows his license to lapse, within what maximum time period may the same license be reinstated?

12 months

After agent termination and after sending a notice to director, to notify agent

15 days

For insurer to file a notice of producer apointment

15 days

Period for temporary liscense

180 days

A dwelling policy will pay loss of use due to civil authority for _____ time period

2 weeks

Within how many years of a loss may an insured bring a lawsuit against an insurer, according to the dwelling policy?

2 years

If an insurer decides to nonrenew a personal auto policy, how many days' notice must be provided to the insured?

20 days

Notice of nonrenewal of a auto policy

20 days before renewal date

Continuing education required for life, health, property, casualty, and personal lines licenses every 2 years

21 hours

Maximum continuing education of an individual in a 2-year period

24 hours

Transportation expense payments start after ___ in reasons other than theft and ___ after a theft

24 hours; 48 hours

Within how many days of requesting an investigative consumer report must an insurer notify the consumer in writing that the report will be obtained?

3 Days

Of continuing education on Nebraska ethics every 2 years

3 hours

Coverage for medical payments under a personal auto policy applies to expenses following a covered accident that are incurred and services rendered within what maximum time period?

3 years

Waiting period for National Flood Insurance Program (NFIP)

30 Days

After agent termination to notify director

30 days

After expiration, to renew license with late fee

30 days

After written request for Director to conduct a hearing

30 days

The removal coverage that is included in the broad form dwelling policy will cover property temporarily removed from the premises to protect it from damage for how long?

30 days

To notify director of change of address or name

30 days

To request a hearing after notice of denial of license

30 days

Examining domestic insurers is required every___

5 years

The loss payment condition in HO policy states that the loss will be paid _______________ after receiving proof of loss.

60 days

There is no coverage under DP-2 for theft if left vacant for how long?

60 days

After __ days, or if insurer decides to nonrenew coverage, at least __ notice is required

60 days; 30 days

In the event of a homeowners policy that has been in force for ___ and will not be renewed or canceled for any reason besides nonpayment of the premium ___ notice is required **NEBRASKA SPECIAL PROVISION

60 days; 60 days

How soon after a direct loss does the period of restoration for business income coverage under business owners property insurance begin?

72 hours

To renew a license before expiration

90 Days

Coverage on loss of antennas, wires, or any media used with the electronic equipment in a motor vehicle.

$250

Motor Carrier Act of 1980 states minimum coverage of transportation of hazardous property is

$1 Million

Minimum additional coverage for a personal umbrella policy

$1 million

Minimum capital stock and surplus to be maintained by stock companies

$1 million

Coverage A under farm policy covers antennas, towers, and satellite dishes attached to the dwelling up to ___ per occurance

$1,000

Coverage for loss assessment

$1,000

Coverage on sound equipment permanently installed in a vehicle insured under a business auto policy

$1,000

Max fine for violation of Producers Licensing Act

$1,000

Max (per violation) fine for engaging in unfair trade practices (if willful and flagrant)

$1,000 ($15,000)

Coverage on damage insured causes to property of others

$1,000 per occurance

Coverage for tree removal is ___ with sublimit of ___ for removal one tree

$1,000; $500

Coverage on other trailers

$1,500

Coverage on portable electronic equipment that produces, receives, or transmits audio visual, or data signals in a motor vehicle

$1,500

Coverage on property away from the premises used for business purposes

$1,500

Coverage on securities, accounts, deeds, evidences of debt, letters of credit, manuscripts, passports, tickets stamps

$1,500

Coverage on theft of jewelry, watches, furs, precious and semiprecious stones

$1,500

Coverage on watercraft and trailers, furnishings, equipment, and outboard motors

$1,500

Fine for second fraud claim violation

$10,000

Fine for third and each additional fraud claim violation

$15,000

Minimum capital stock and surplus to be maintained by stock companies selling life or variable life insurance

$2 million

Coverage on business property on premises

$2,500

Coverage on outdoor signs under CPP within 100 feet of premises

$2,500

Coverage on theft of firearms

$2,500

Coverage on theft of silverware, goldware, flatware, trophies

$2,500

Fine for willful noncompliance with Fair Credit Reporting Act

$2,500

The Landlord's Furnishings endorsement provides up to $ _______ of coverage.

$2,500

Coverage on transportation expenses incurred by the insured due to a covered loss

$20/day up to $600

Coverage on money, bank notes, bullion, gold, silver

$200

Coverage on towing and labor costs

$25