Risk is best difine as
Change of loss
Being subject to a loss is
Exposure
The ranking insured in a personal lines contract is the:
Named insured
To be paid a claim under a p&c contract, insurable interest must exist:
At the time of loss
This type of company is run for the benefit of the policyowners:
Mutual
Ohio Casualty is doing regular business in Indiana. Within the state of Indiana, Ohio Casualty would be considered a(n)
Foreign company
Ohio Casualty is doing regular business in Indiana. Within the state of Indiana, Ohio Casualty would be considered a(n)
Admitted
A company chartered in Guam and Puerto Rico doing regular business in New York would be considered by new Yorkers to be a
Foreign
With regard to insurance, the term "consideration" means
The premium and the statements on the application
Which of the following terms indicate that an insurance contract contains the legally enforceable promises of only one party ?
Unilateral
Which two sets of policies are not solely designed for owner-occupied dwellings?
HO2 and HO6
A tenant who does not need to buy coverage for the dwelling itself but would like to cover his own personal property should obtain which type of homeowners policy ?
HO4
Broad form provides coverage for which of the following perils
Glass breakage