All Matches

Solution Library

Expert Answer

Textbooks

Search Textbook questions, tutors and Books

Oops, something went wrong!

Change your search query and then try again

Result Not Found

Books FREE
Tutors
Study Help
Ask a Question
AI Study Help New

Search
Sign In
Register

study help
business
risk management financial

Questions and Answers of Risk Management Financial

Without going into great detail, explain the essential difference among the Homeowners 2 Broad Form, the Homeowners 4 Tenant’s Form, and the Homeowners 3 Special Form.
For each of the following losses, indicate whether coverage would or would not be provided under the Homeowners 3 Special Form:a. A hot water heater explodes.b. The insured’s automobile damages the
With respect to each of the following losses, indicate whether coverage would or would not be provided under the Homeowners 2 Broad Form:a. Adelivery truck backs over the insured’s prize cherry
Identify the perils included in the Homeowners 2 Broad Form that are not contained in the Homeowners 8 Modified Coverage Form. With respect to those perils that are included in both forms, indicate
Owing to a power transformer burnout, the entire city in which you live is without power for four days. There is some inconvenience, but your greatest loss is the damage to your freezer when the meat
Your parents are planning a two-month trip to Europe. Your father, assuming you are an expert in the field of insurance, asks you if the house being empty for two months will affect the coverage
Briefly explain the doctrine of concurrent causation.In what ways have the homeowners policies been modified in response to this doctrine?
The theft coverage under the homeowners policies is subject to a number of exclusions and other limitations.Identify the exclusions applicable to the theft peril and any other limitations imposed by
Explain the special exposures of a condominium unit-owner that led to the development of a separate homeowners form for such individuals. Explain the manner in which these exposures are handled under
Your homeowners policy is about to be renewed.It is written to cover your dwelling for its original construction cost. The policy is a Homeowners Form HO-3 and is standard in all respects: The
Josh Jones is insured under a Homeowners Form HO-3, with $50,000 in coverage on the dwelling and standard amounts on all other coverages. Jones borrows a neighbor’s camping trailer and while
The Homeowners Special Form insures the dwelling on an open-peril basis. What perils that are not covered under the Broad Form would be covered under the Special Form?
Sue and Mary share a small apartment. Some of the property in the apartment belongs to Sue and some belongs to Mary, and some items are owned jointly. Mary purchases a Homeowners 4 Contents Broad
A distant uncle dies, leaving you his $150,000 condominium unit in Aspen, Colorado. It is rented to skiers during the winter months and managed by a local realtor.You elect to spend your summers
Briefly describe the difference in coverage on the insured’s own property under Section I of the homeowners forms and the coverage on that property under the equivalent monoline dwelling forms.
Under what circumstances might dwelling property be insured under one of the monoline dwelling forms rather than under one of the homeowners forms?
Briefly describe the provisions of the flood insurance policy relating to inception of coverage and cancellation.
What limits of coverage are currently available to residential applicants under the National Flood Insurance Program (NFIP)?
In what fundamental respect is the coverage on personal property owned by the insured under the mobilehome policy different fromthe coverage under the homeowners policies?
Describe the general nature of the Lienholder’s Single Interest Conversion Endorsement. Why would a mobilehome owner elect this coverage?
What factors, other than the value of the property insured, determine the coverage cost under the monoline dwelling policies and the homeowners forms?
Is an examination of the abstract of title an adequate substitute for title insurance? Why or why not?
List and briefly describe the coverages that may be included in the Boatowners Policy.
For what reasons might an individual decide to insure property under the homeowners Scheduled Personal Property Endorsement?
Most people elect the standard percentage of coverage on contents when purchasing a homeowners policy, yet there is no reason to suppose the value of contents for a given family will be equal to 50
The cancellation provisions of the NFIP differ from those of any contracts previously encountered in the text.In what ways do these provisions seem necessary for the protection of (1) the insured and
Do you believe that persons owning property in the city in which you live should purchase the Earthquake Assumption Endorsement to their homeowners policies?Why or why not?
If you lived in an area where title insurance and a Torrens system were available, which would you elect?Why?
The open-peril coverage of inland marine policies is generally subject to exclusions of damage caused bywear and tear, gradual deterioration, insects, vermin, and inherent vice. For what reason are
Describe the purpose and uses of the monoline dwelling forms
Explain how coverage under the mobilehome program differs from coverage on dwellings under the homeowners program
Identify the coverage limits on residential property available under the National Flood Insurance Program
Explain the reasons that an individual might choose to purchase scheduled coverage under an inland marine floater
Identify the classes of property thatmay be insured under the scheduled coverage endorsement to the homeowners forms
Explain the coverage features of watercraft policies
Distinguish between criminal acts and torts and define negligence, giving the requirements to support a claim of negligence
Explain what is meant by vicarious liability
Explain the obligations of property owners to those on their property
Identify and describe the types of damages thatmay be awarded to an injured party and explain how each is determined
Explain the defenses to negligence
Apply the law of negligence to specific fact situations
Explain the problems in the tort system and identify the proposals for change
What conditionsmust exist before an individual may be held legally liable in a tort action?
Distinguish among invitee, licensee, and trespasser, and describe a property owner’s responsibilities to each.
Give an example of each of the following legal doctrines:res ipsa loquitur, scienter, and negligence per se.
Explain fully what is meant by the term vicarious liability, giving examples of several situations in which vicarious liability is likely to exist.
Identify the defenses that may be used against a tort action.
To what extent may parents be held liable for the acts of their minor children? Be complete and specific.
Distinguish between the concepts of contributory negligence and comparative negligence. Which doctrine is used in your state? Which do you feel is the more reasonable, and why?
What factors are considered in determining the amount of damages to which a person who suffers bodily injury is entitled in a tort action?
What is meant by the term absolute liability? Give three examples of absolute liability.
To what extent are the risk management techniques of avoidance, reduction, and retention suitable and adequate techniques for dealing with the liability risk?
At one time, it was felt that liability insurance would undermine the tort system, which has as its central theorem the concept that the individual responsible for injuring another should be made to
Schwartz had been troubled by burglars, so he installed a trap in his building with a shotgun rigged to fire when an intruder opened the door. Sam Burglar broke into the building and lost both legs
Bodily injury awards have increased at a significant rate during the past two decades. Towhat do you attribute this increase?Were previous awards inadequate, or are the current ones excessive?
Because of a rash of liability suits and high judgments, many municipalities and government subdivisions have had difficulty in obtaining liability insurance for a decade.This seems ironic
What major liability exposures do you as an individual in your current status as a student face? How are your exposures likely to change after you have completed your education?
Explain the distinction between a denial of payment by an insurer because there is no liability and denial because there is no coverage
Identify the coverage features under Section II of the homeowners forms
Describe the insuring agreements of liability insurance contracts generally and explain the insurer’s obligation to defend the insured
Explain the insuring agreement of the Section II Personal Liability coverage
Explain the insuring agreement of the Section II Medical Payments coverage
Recognize significant exclusions under the homeowners Section II
Describe the personal umbrella liability contracts, including qualification requirements and typical exclusions
List the available endorsements for broadening Personal Liability coverage
Why is liability insurance sometimes called thirdparty coverage?
Briefly explain the definition of the term premises as used in the Homeowners Policy with respect to Section II(liability) coverages.
Who is included within the definition of “persons insured”under Section II of the Homeowners Policy?
Briefly describe the coverage provided under the Medical Payments coverage under Section II of the Homeowners Policy. To whom does the coverage apply? To whom does it not apply?
Jones is playing golf and runs over her partner’s foot with a rented golf cart.Will the Personal Liability coverage or the Medical Payments coverage respond for the injury?
What coverage exists under Section II of the Homeowners Policy for those situations in which the insured feels a moral obligation but where no legal obligation exists?
Jones owns a vicious German shepherd. The dog bites a mail carrier about three blocks away from Jones’s premises. Discuss fully the coverage under Section II of the Homeowners Policy for this
Briefly describe the Fire Legal Liability coverage found in Section II of the Homeowners Policy. To whom does it apply? What factors create the need for this coverage?
Explain the nature of the personal umbrella liability policy. In your explanation, be sure to point out the relationship of the umbrella to the underlying coverage and the application of the
Distinguish between a claims-made malpractice policy and an occurrence policy. What factors prompted the development of the most recent of the two?
For each of the following losses, indicate whether coverage would exist under Coverage E, the liability coverage, of Section II of the homeowners policy:a. A young lady of the insured’s
For each of the following losses, indicate whether coverage would exist under Coverage F, the Medical Payments coverage, of Section II of the Homeowners Policy:a. The insured’s 65-year-old
For each of the following losses, indicate whether coverage would exist under the supplementary coverage for Damage to the Property of Others.a. The insured borrows a neighbor’s lawn mower;while it
A friend, explaining his position with respect to liability insurance, states, “I don’t feel I need the high limits of liability because I don’t make that much money. If I were a doctor or a
Mary Somers babysits for working mothers. She has 11 small children, ages two to four, in her care. She is concerned about potential liability if one of the children should be injured andwonders if
Define and explain the meaning of the term risk?
Distinguish among the terms risk, peril, and hazard?
Identify and explain the classes of hazards?
Differentiate between pure risk and speculative risk?
Differentiate between fundamental and particular risk?
Describe the categories into which pure risk may be subdivided?
Identify and explain the principal methods of handling risk?
Define risk. In your definition, state the relationship between risk and uncertainty.
Risk may be classified in several ways. List the principal ways in which risk may be categorized, and explain the distinguishing characteristics of each class.
The distinction between “pure risk” and “speculative risk” is important because only pure risks are normally insurable. Why is the distinction between “fundamental risk” and “particular
Explain how pure risk has an adverse effect on economic activity.
List the four types of pure risk facing an individual or an organization and give an example of each.
The text discusses the “burden of risk.” What are the two principal ways in which the impact of risk may be felt by an individual or an organization?
Distinguish between “perils” and “hazards” and give two specific examples of each.
Briefly distinguish among the three categories into which hazards may be divided and give an example of each.
Explain why the number of risks and the severity of losses increase over time.
With respect to each of the following, indicate whether you would classify the event or condition as a peril or a hazard: an earthquake, sickness, worry, a careless act, and an economic depression.
Two 9-year-old boys are watching a television replay of a boxing match between Muhammad Ali and Joe Frazier on a program called “Great Fights of the Century.”Since the fight took place before
Mike says, “The possibility thatmy house may burn is a pure risk for me, but if I buy insurance, it is a speculative risk for the insurance company.” Do you agree? Why or why not?
If risk is distasteful, how do you account for the existence of gambling, a pastime in which the participants indicate they prefer the risk involved to the security of not gambling?

Showing 600 - 700 of 1698

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Last

Services

Sitemap
Fun
Definitions
Become Tutor
Study Help Categories
Recent Questions
Expert Questions

Company Info

Security
Copyrights
Privacy Policy
Terms & Conditions
SolutionInn Fee
Scholarship

Get In Touch

About Us
Contact Us
Career
Jobs
FAQ
Campus Ambassador

Secure Payment

Download Our App

© 2024 SolutionInn. All Rights Reserved