Insurance 2 Jeopardy Template

Definitions	Scenarios	Lists	Random!
100 What is Arbitration. This is a procedure in which an insurance company and the insured agree to settle a claim dispute by accepting a decision made by a third party.	100 What is Indirect Loss An insured has a vehicle damaged in a direst loss. The insured must pay for a rental vehicle. This is an example of what?	300 Water damage by flood Ordinance increasing construction costs Power interruption away from premises Earth movement other than CGCC Rebellion, revolution, war What's does WOPER stand for?	100 48 months How long do you have to deactivate an appointment before you are considered a new applicant?
200 What is Subrogation. When the insurer pays the insured for a covered loss, any rights from the recovery are transferred to the insurer.	200 What is Subrogation. A house fire is caused by faulty electrical. You pay out under the homeowners policy and then sue the electrician for damages paid.	400 Bail bonds up to $250 Release of attachments Bond Interest accruing after judgement Earnings loss up to $200 per day of the insured Full cost of defense List all 5 supplementary payments under BRIEF.	200 24 months or until cancelled by company How long in an appointment good for?
300 What is Vicarious Liability This imposes responsibility upon one person for the failure of another.	300 What is Comparative Negligence Plaintiff suffered $10,000 loss, was 30% negligent by not wearing a seatbelt, damages are reduced from $10,000 to $7,000. This is an example of?	450 FAJUA stands for Florida Automobile Joint Underwriting Association and is overseen by a BOARD OF GOVERNERS 100/300/50 What does FAJUA stand for and who oversees it? What are the max limits of liability?	300 100 days written notice. If insured has same company for more that 5 years 120 days This many days are required for a property insurance non-renewal.
400 What is appraisal. A survey that determines value (not coverage) of property without legal action.	400 What is $45,000 Glenn has 25/50/10. There is an accident and the following claims are presented: $30,000 Bodily Injury $10,000 Bodily Injury $12,000 Property Damage How much will you pay?	450 See page 14 Under Section I of a Homowners Policy, list any 5 special limits and the amounts.	400 Named insured and resident spouse or relative. Child in legal care under 21, college student up to 24 In a homeowners policy, who is considered an insured?
500 Domestic: formed within this state Foreign: formed under the laws of any state, other than this one Alien: not chartered in the United States Name the 3 insurance company types and the definitions.	500 WC --> PIP---> MedPay A medical bill can be paid by MedPay, Workers Comp and PIP. What is the order that these will pay out in?	500 Owners Occupants of 1-4 family dwelling- MUST LIVE IN ONE UNIT 2 roomers/ boarders Renters who maintain occupancy in any type of building Condo owners Home under construction List the eligibility requirements for a Homeowners Policy.	500 Page 22 Name 5 methods of Unfair Competition.

Insurance

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