Subrogate Subrogation is the right for an insurer to legally pursue a third party that
caused an insurance loss to the insured. This is done as a means of recovering the
amount of the claim paid by the insurance carrie
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Subrogate Subrogation is the right for an insurer to legally pursue a third party that
caused an insurance loss to the insured. This is done as a means of recovering the
amount of the claim paid by the insurance carrier to the insured for the loss. - ✔✔While
investigating a claim, you determine that the loss was caused by a defective mechanism
in the dishwasher. You would attempt to_________________________?
Appraisal - ✔✔What is the process when an insurer and an insured have a dispute
regarding the amount of damage?
Material Misrepresentation -
✔✔__________________________________________________is a significant
misstatement in an application form. If a company had access to the correct information
at the time of application, the company might not have agreed to accept the application.
Age, Condition and Life Expectancy - ✔✔As an adjuster, you should base depreciation
on these three factors?
Umpire - ✔✔An_________________ is a person hired by the property owner to settle
the claim with insurance company on their behalf.
HO-A - ✔✔This type of policy provides coverage only for those perils that are listed in
the policy?
Additional Living Expenses - ✔✔_________________________ are extra charges
covered by homeowner's policies over and above the policyholder's customary living
expenses.
Occurrence - ✔✔_______________________is an event that results in an insured
loss/damages?
Actual Cash Value - ✔✔What is value of your property, based on the current cost to
replace it, minus depreciation?
Incurred Expenses - ✔✔Expenses that have already sustained and that have not yet
been paid are known as ____________________________________.
Declarations Page - ✔✔________________________________is the part of the written
insurance policy that states all the policy's specific's, including the name of the
policyholder, the type of property insured, the premiums, and the term limits for the
coverage.
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