ADJUSTER PRO - INSURANCE
ADJUSTER TEST
4 elements of negligence - ANSWERS-1. Defendant had a legal duty
to act or not act in a prescribed manner
2. The defendant failed to act accordingly
3. The plaintiff suffered actual loss or injury due to the defendants
action or inaction
4. The loss or injury to the plaintiff was a direct result of the breach of
duty of the defendant
Degrees of Liability - ANSWERS-Full liability- the insured party is
100% at fault for damages to a third party
Partial liability - the insured party is only partially at fault, or shares
fault, with a third party. The third party had some parts in his own
damages
No liability - the insured party has 0% or no liability
Assumption of risk - ANSWERS-Claimant knew he had the potential
to experience damage
,Contributory Negligence - ANSWERS-A legal defense that may be
raised when the defendant feels that the conduct of the plaintiff
somehow contributed to any injuries or damages that were sustained
by the plaintiff.
Comparative Negligence - ANSWERS-A theory in tort law under
which the liability for injuries resulting from negligent acts is shared
by all parties who were negligent (including the injured party), on the
basis of each person's proportionate negligence.
Dangerous Instrumentality Doctrine - ANSWERS-States that anyone
involved in the use of inherently dangerous products or machines is
held 100% liable for their own damages.
strict (absolute) liability - ANSWERS-liability is imposed regardless
of negligence or fault
Policy limit - ANSWERS-The maximum amount the insurance
company will pay for covered losses
Single limits - ANSWERS-Establishes maximum payout for liability
damages caused by the policy holder
Split limits - ANSWERS-Establishes 3 different limits on how much
the policy will pay out
1. Maximum payout for bodily injury for each person injured
, 2. Maximum payout for multiple persons
3. Maximum payout for property damage
Aggregate limits - ANSWERS-2 limits
1. Max payout for damage or injury per occurrence
2. Maximum payout amount the policy will pay per term
Res Ipsa - ANSWERS-Means "the thing speaks for itself" and is only
applied n rare instances when no one knows how exactly the accident
happened
Statutory law - ANSWERS-Based on written laws
Common law - ANSWERS-Based on court decisions and customs
when statutory law does not provide an answer
Tort - ANSWERS-Any civil wrongdoing, whether intentional or
unintentional
Tort law - ANSWERS-Body of law that addresses and provides
remedies for any civil wrongdoing performed on another party.
Tortfeasor (defendant) - ANSWERS-person who commits a tort
ADJUSTER TEST
4 elements of negligence - ANSWERS-1. Defendant had a legal duty
to act or not act in a prescribed manner
2. The defendant failed to act accordingly
3. The plaintiff suffered actual loss or injury due to the defendants
action or inaction
4. The loss or injury to the plaintiff was a direct result of the breach of
duty of the defendant
Degrees of Liability - ANSWERS-Full liability- the insured party is
100% at fault for damages to a third party
Partial liability - the insured party is only partially at fault, or shares
fault, with a third party. The third party had some parts in his own
damages
No liability - the insured party has 0% or no liability
Assumption of risk - ANSWERS-Claimant knew he had the potential
to experience damage
,Contributory Negligence - ANSWERS-A legal defense that may be
raised when the defendant feels that the conduct of the plaintiff
somehow contributed to any injuries or damages that were sustained
by the plaintiff.
Comparative Negligence - ANSWERS-A theory in tort law under
which the liability for injuries resulting from negligent acts is shared
by all parties who were negligent (including the injured party), on the
basis of each person's proportionate negligence.
Dangerous Instrumentality Doctrine - ANSWERS-States that anyone
involved in the use of inherently dangerous products or machines is
held 100% liable for their own damages.
strict (absolute) liability - ANSWERS-liability is imposed regardless
of negligence or fault
Policy limit - ANSWERS-The maximum amount the insurance
company will pay for covered losses
Single limits - ANSWERS-Establishes maximum payout for liability
damages caused by the policy holder
Split limits - ANSWERS-Establishes 3 different limits on how much
the policy will pay out
1. Maximum payout for bodily injury for each person injured
, 2. Maximum payout for multiple persons
3. Maximum payout for property damage
Aggregate limits - ANSWERS-2 limits
1. Max payout for damage or injury per occurrence
2. Maximum payout amount the policy will pay per term
Res Ipsa - ANSWERS-Means "the thing speaks for itself" and is only
applied n rare instances when no one knows how exactly the accident
happened
Statutory law - ANSWERS-Based on written laws
Common law - ANSWERS-Based on court decisions and customs
when statutory law does not provide an answer
Tort - ANSWERS-Any civil wrongdoing, whether intentional or
unintentional
Tort law - ANSWERS-Body of law that addresses and provides
remedies for any civil wrongdoing performed on another party.
Tortfeasor (defendant) - ANSWERS-person who commits a tort
