Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
3 Cards in this Set
- Front
- Back
- 3rd side (hint)
|
Choose from the following situations the example of assumption of risk. |
Fred was in a hurry to get to work. He took a shortcut over a bridge marked “condemned,” which collapsed under his weight. |
When Fred took the shortcut across a condemned bridge he assumed the risk. |
|
|
If an insured fail to report a claim in a timely fashion the adjuster will usually |
Send the insured a reservation of rights letter |
Failure to report a claim in a timely fashion denies the insurer of the opportunity to promptly investigate the circumstances of the claim. Valuable information from witness could be lost as well as other physical evidence. When this occurs, the insurer will normally send the insured a reservation letter to protect the rights of the insurer. |
|
|
If one is found guilty of federal insurance fraud, who can permit the guilty individual to return to the insurance business? |
Only an insurance regulatory official. |
Only an insurance regulatory official, such as the Superintendent of Insurance, can allow the individual to return to the insurance business. |
