Under the provisions of the Deferred Loss Settlement Clause how does the insurer
proceed in the event of a loss to an insured farm outbuilding?
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The Insurer will pay at the time of the loss an initial amount of no more than
50% of the amount insured; the remaining 50% is payable, plus interest, if:
i. The building is repaired or replaced with a building designed for the same
purpose;
ii. Repair or replacement is completed within nine months of the date of the
loss or damage;
iii. The building is repaired or replaced within 200 feet of the building which
was destroyed.
While renewing your client's automobile insurance she excitedly shares news about
the upcoming month-long trip to Australia. You take this opportunity to offer travel
insurance, but your client feels that their provincial medical plan provides all the
, coverage they need in the event of an accident which, of course, is not going to
happen. Identify the four costs not covered under a provincial plan.
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Ambulance charges, family visitation, repatriation, or return of vehicle.
All Homeowners policies describe the Basis of Claim Payment for loss or damage to
dwelling building, detached private structures and personal property. Indicate the
basis of settlement and conditions: Water used to extinguish a small fire at the
Insured's home destroyed all electronic media and records kept by the Insured.
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Cost to reproduce lost or damage media from duplicates or from originals
of the previous generation of the media. The payment for lost records is the
cost of blank books, pages, cards or other materials plus the cost of
actually transcribing or copying such records.
Your client's home is insured under a Homeowner's Comprehensive Form. The
dwelling is insured on a Guaranteed Replacement Basis. What obligation does the
insured have to the insurer when improvements, extensions, or additions have been
made to the dwelling?
Give this one a try later!
When changes are made, the insured must notify the insurer within 90 days
of start of work
proceed in the event of a loss to an insured farm outbuilding?
Give this one a try later!
The Insurer will pay at the time of the loss an initial amount of no more than
50% of the amount insured; the remaining 50% is payable, plus interest, if:
i. The building is repaired or replaced with a building designed for the same
purpose;
ii. Repair or replacement is completed within nine months of the date of the
loss or damage;
iii. The building is repaired or replaced within 200 feet of the building which
was destroyed.
While renewing your client's automobile insurance she excitedly shares news about
the upcoming month-long trip to Australia. You take this opportunity to offer travel
insurance, but your client feels that their provincial medical plan provides all the
, coverage they need in the event of an accident which, of course, is not going to
happen. Identify the four costs not covered under a provincial plan.
Give this one a try later!
Ambulance charges, family visitation, repatriation, or return of vehicle.
All Homeowners policies describe the Basis of Claim Payment for loss or damage to
dwelling building, detached private structures and personal property. Indicate the
basis of settlement and conditions: Water used to extinguish a small fire at the
Insured's home destroyed all electronic media and records kept by the Insured.
Give this one a try later!
Cost to reproduce lost or damage media from duplicates or from originals
of the previous generation of the media. The payment for lost records is the
cost of blank books, pages, cards or other materials plus the cost of
actually transcribing or copying such records.
Your client's home is insured under a Homeowner's Comprehensive Form. The
dwelling is insured on a Guaranteed Replacement Basis. What obligation does the
insured have to the insurer when improvements, extensions, or additions have been
made to the dwelling?
Give this one a try later!
When changes are made, the insured must notify the insurer within 90 days
of start of work
