1)

Flood insurance can be purchased through any licensed property or casualty insurance agent or from some direct writing insurers. Some insurers actually issue the flood insurance policies, in partnership with the federal government, as a service and convenience for their policyholders. In those instances, the insurer handles the premium billing and collection, policy issuance, and loss adjustment on behalf of the federal government. Identify these insurers.

Stock insurers

Write Your Own insurers

Mutual insurers

High network insurers

Subrogate insurers

2)

Identify exclusion (f) in bodily injury and property damage liability in a commercial general liability policy.

Nonfortuitous liability

Contractually assumed liability

Liquor liability

Pollution liability

Workers compensation liability

3)

Identify the hazard that generally exists when a person can gain from the occurrence of a loss.

Causal hazard

Collective hazard

Physical hazard

Morale hazard

Moral hazard

4)

n linear regression, if X is the year (Year 1, 2, 3 and so on), how would you calculate future claims?

Future claims = X + Slope + Intercept

Future claims = Slope + Intercept * X

Future claims = (Slope + Intercept)/X

Future claims = Intercept + Slope * X

Future claims = (Intercept + Slope) * X

5)

This disability insurance policy provision coordinates benefits under different disability policies by providing for a reduction in benefit payments if the total amount of income payments under all insurance policies covering the loss exceeds earnings at the time disability commences, or exceeds the average earnings for two years preceding disability, whichever is greater. Identify this provision.

Coinsurance provision

Indemnity provision

Average earnings provision

stop-loss limit provision

coordination of benefits provision

6)

Which of the following is covered by umbrella policies?

Personal injury liability

Obligations under workers compensation

Owned or rented aircraft without underlying coverage

Property damage to any property in the care, custody, or control of the insured

Any act committed by or at the direction of the insured with intent to cause personal injury or property damage