Insurance Things I Need To Study

Front 1

Uninsured motorists coverage does not apply when

Back 1

the owner or operator of a hit-and-run vehicle can be identified.

Front 2

When Symbol 1 is selected, any auto, whether owned, non-owned, hired, or otherwise, is a 'covered' auto for that coverage.

Back 2

Symbol 2 often is used to designate medical payments, UM, UIM, and physical damage coverage on all owned autos.

Front 3

Proper notification to add collision and other than collision coverage to a personal auto policy is

Back 3

four days.

Front 4

The duty to defend is broader than the duty to indemnify as it even extends

Back 4

to cases in which it is unclear whether coverage applies.

Front 5

The Extended Non-Owned Coverage endorsement is often used for an insured who is provided with a company car.

Back 5

It expands liability and medical payments coverage for exposures arising out of the use of vehicles furnished or available for regular use of the named individual by deleting certain exclusions.

Front 6

The garagekeepers exclusions preclude coverage for contractually assumed liability for

Back 6

loss due to defective parts, materials, or faulty work.

Front 7

If an employer refuses to purchase workers compensation insurance for the benefit of its employees,

Back 7

it is not protected by statute against lawsuits filed by workers.

Front 8

Part Three, Other States Insurance, is part of the basic workers compensation policy. An other states endorsement is not required for this coverage. The states for which other states coverage is desired must be listed on the Information Page.

Back 8

With other states coverage, workers compensation and employers liability insurance is available for incidental exposures in states not listed on the Information Page.

Front 9

The Voluntary Compensation and Employers Liability Coverage endorsement is attached when

Back 9

the insured wants to offer statutory benefits to exempt employees to whom workers compensation benefits do not apply. If the injured employee elects to sue on a common-law basis in lieu of the benefits offered under this endorsement, the claim will be handled under the employers liability coverage.

Front 10

The Federal Employers Liability Act (FELA) provides employees of interstate railroads with a

Back 10

remedy for an injury sustained on the job without having to overcome employer defenses of assumption of risk or fellow servant liability. An employee's contributory negligence will not bar recovery, but it will reduce it.

Front 11

Experience rating is used to modify employers' workers compensation premiums on the basis of their

Back 11

individual loss histories. An experience modification factor, or 'mod,' is an employer-specific multiplier that reflects that employer's loss experience relative to that of others in the same industry. A modifier of 1.0 indicates average loss experience. A debit modifier (greater than 1.0) indicates higher-than-average losses and warrants a higher premium.

Front 12

A notice of cancellation is not effective unless mailed by certified mail or delivered by the insurer to the named insured at least

Back 12

30 days prior to the effective date of cancellation. A 10-day notice of cancellation is required if the reason for cancellation is nonpayment of premium.

Front 13

An insured may cancel an automobile liability policy if a producer incorrectly states the

Back 13

premium amount. The initial premium payment minus the prorated cost for the period of time of coverage at the initial stated premium will be returned to the insured.

Front 14

An insurer may not cancel an automobile insurance policy of an insured over the age of 65 based upon

Back 14

his or her age if the insured is mentally and physically capable of driving an automobile and possesses a valid Louisiana operator's license.

Front 15

Under the Louisiana Changes (BP 01 30) endorsement to the business owners policy, an insurer that cancels a policy that has been in effect for less than 60 days and is not a policy renewal must

Back 15

give written notice to the mortgage holder, pledgee, or other known party with an insurable interest at least 60 days before the cancellation.

Front 16

After an insurer has paid and satisfied an insured's third physical damage claim within a period of 5 years,

Back 16

it will not be considered a cancellation of the coverage or of the policy if the insurer includes a deductible of up to $500 or increases the existing deductible to an amount up to $500.

Front 17

The Special Provisions – Louisiana (HO 01 17) form is a

Back 17

mandatory endorsement that must be attached to any homeowners policy issued in Louisiana.

Front 18

The undisputed portion of a loss is payable within

Back 18

30 days after the insurer receives a satisfactory proof of loss from the insured.

Front 19

An employee of a private residential householder whose labor and services are performed in connection with the householder's private residential premises is

Back 19

exempt from coverage under workers' compensation law, but only if the employee's annual net earnings are less than $1,000. In this case, Jill's annual earnings are $3,250 ($65 x 50 weeks).

Front 20

Fungi include any type or form of fungus, including mold or mildew, and any mycotoxins, spores, scents, or by-products produced or released by fungi.

Back 20

This does not include any fungi that are on or are contained in a product intended for consumption.

Front 21

If the employee dies, the employer will pay reasonable burial expenses up to

Back 21

$7,500. If the employee's burial expenses are less than $7,500, the difference between the reasonable expenses and $7,500 will be paid by the employer to the heirs of the deceased employee.

Front 22

The Business Pursuits (HO 24 71) endorsement covers specified business pursuits of the insured named on the endorsement, provided that

Back 22

the business is not owned or financially controlled by the insured. Liability arising from professional services of any kind, except for teaching, is excluded, as is bodily injury to an employee.

Front 23

The coverages provided under a CA 04 13 endorsement apply to any leased auto described in the schedule.

Back 23

For a leased auto designated in the schedule, the named lessor in the schedule becomes the insured.

Front 24

Any occupational disease contracted by an employee while performing work for a particular employer in which he or she has been engaged for less than

Back 24

12 months is presumed not to have been contracted in the course of and arising out of the employment. However, if it can be proved by a preponderance of the evidence that the occupational disease was contracted during the first 12 months of employment, the employee is entitled to workers' compensation benefits.

Front 25

The first installment of compensation payable for temporary total disability, permanent total disability, or death is due on

Back 25

the 14th day after the employer or insurer has knowledge of the injury or death.

Front 26

The corporation is authorized to provide workers' compensation insurance which includes, but is not limited to,

Back 26

state workers' compensation insurance coverage, United States Longshore and Harbor Workers' Compensation Act coverage, and Jones Act coverage.