Florida Public All Lines Adjuster || 74 Questions And Answers || 100% Correct 2024

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Subordination - Correct Answer -When the insured collets damages from his or her own insurance company and those damages were caused by negligent third-party, the insurance company steps into the shoe... s of the insured and is entitled to recover the damages actually paid to the insured from the negligent party liability insurance - Correct Answer -Means that the payment by the insurance company will be made to a third-party injured or damaged by the insured. An insured can we never recover damages from their own liability policy. DICE: Declarations, insuring agreement , condition, and exclusions. - Correct Answer -For fundamental parts of all property and liability insurance contracts Proof of Loss - Correct Answer -The evidence offered by the insured to support the claim for damages and, assigned sworn statement by the insured verifying that the required according to the policy or the insurance company. Severability - Correct Answer -Insurance applies separately to each insured as if the other insured does not exist. Example: A homeowner who intentionally set fire to the house will not prevent the bank that holds the mortgage from recovering insurance for the damage done to the home. risk - Correct Answer -Insurance policies transfer risk, or the chance of financial loss. Primary Policy - Correct Answer -A basic, fundamental insurance policy which pays first with respect to other outstanding policies followed by an Excess Policy. [Show More]

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