The FAIR Plan makes insurance available to risks that were previously considered uninsurable because of
Physical risks
The FAIR plan covers
Property
Which of the following exposures is insurable under the FAIR Plan?
Property in violation of law or public policy
A notice of cancellation is not effective unless mailed or delivered by the insurer to the named insured at least
20 days before the effective date of cancellation
A notice of cancellation for nonpayment of premium shall not be effective unless mailed or delivered by the insurer to the named insured at least
10 days prior to the date of cancellation
A notice of intention not to renew a commercial insurance policy is not effective unless mailed or delivered by the insurer to the named insured at least how many day prior to expiration date of the policy
45 days
For an increase of 25% on a renewal premium or deductible, the insurer must give how many days notice to the insured?
45 days
When the insurance company cancels an insurance policy, the return premium is usually
On a pro rata basis
When an insured requests cancellation, the return premium is usually
On a short rate basis
If the initial cash premium, or any part of the premium, has not been paid, the policy may be canceled by the insurance company by giving notice of how many days to the mortgagee?
10 days
The Standard Fire Policy would NOT insure against direct loss by
Wind
The Standard Fire Policy insures against direct loss by
Lightning
The Standard Fire Policy pays for losses on the basis of
Actual cash value
When the Extended Coverage (CE) Endorsement is added to the Standard Fire Policy, the resulting policy is the
Dwelling Basic Form (DP-1)
If specifically named in writing, the Standard Fire Policy shall cover
Bullion or manuscripts
The Standard Fire Policy would insure against direct loss by
fire, lightening and removal from premises endangered by the perils insured.