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New York General Adjuster Law, Adjuster Claims, and Responsibilities Questions and Answers

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New York General Adjuster Law, Adjuster Claims, and Responsibilities Questions and Answers The Superintendent of Insurance in New York is: 1 Appointed by the Governor with the consent of the New Yor... k state Senate. 2 An elected official. 3 Appointed by the Senate. 4 Nominated by the National Association of Insurance Commissioners (NAIC). {{Correct Ans- 1 Appointed by the Governor with the consent of the New York state Senate. The New York state legislature empowers the governor to appoint the Superintendent making this position a cabinet position in the governor's administration. After inspecting an insured fire loss, it is a duty of the adjuster to: 1 Contract a contractor for a repair bid. 2 Assist the insured with the cleanup. 3 Remove the debris. 4 Assist the insured with information on separating the damaged from the undamaged property and how to inventory the damaged property. {{Correct Ans- 4 Assist the insured with information on separating the damaged from the undamaged property and how to inventory the damaged property. It is a duty of the adjuster is to assist the insured in explaining how to separate the damaged property from the undamaged property and how to inventory and determine values. Payment may be made if which of the following procedures has been executed? 1 A partial signed release 2 A Walk-Away release 3 A prima-facia signed release 4 None of the answer choices is correct. {{Correct Ans- 2 A Walk-Away release The walk-away release indicates the final disposition of the matter and relinquishes the claimant's right to sue so payment may be issued. In some states the signing of the payment check indicates a walk-away release. [Show More]

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