FLORIDA CLAIMS ADJUSTER EXAM 206
REVISION HANDBOOK 2026 LIABILITY
COVERAGE AND INSURANCE LAW BASICS
◉ An individual who contracts with an adjusting firm as an
independent contractor and handles claims for the insurance
companies.
Answer: Independent Adjuster
◉ Action or practice of the insured party is permitted to continue
because any defense against a continuation of said action or practice
has been waived by the insurer.
Answer: Estoppel
◉ Operate for profit, collect premiums, reserve a portion of
premiums to pay claims.
Answer: Commercial Insurers
◉ Any person who investigates or adjusts losses on behalf of either
an insurer or a self-insured.
Answer: Independent Adjuster
,◉ The result of an insured's tort or wrongdoing. Consequences of a
loss or amount or type of losses suffered.
Answer: Damages
◉ Requires the insured to insure the named property for a specific
amount of insurance as required by the insurance company.
Answer: Agreed Value
◉ Physical harm to tangible property caused by peril (loss to
property or person in which a covered peril is the proximate cause
of damage or destruction).
Answer: Direct loss
◉ The entity that is the "recipient" to the Principal.
Answer: Obligee
◉ Insurance contracts are written on a take it or leave it basis to the
policy owner..
Answer: Adhesion
◉ Event or circumstance that causes damage.
Answer: Occurance
, ◉ Coverage provides for payment of losses if civil authority denies
access to the insured premises due to a covered peril.
Answer: Civil Authority
◉ Voluntary relinquishment of a known legal right.
Answer: Waiver
◉ An insurer domiciled outside the state where it writes insurance.
Answer: Foreign
◉ A state officer who administers the state's insurance laws and
regulations.
Answer: Commissioner
◉ Used as a promise to accept a bid if awarded to a company.
Answer: Bid bond
◉ Damaged property an insurer takes over to reduce their loss after
paying a claim.
Answer: Salvage
◉ Factual statements upon which an insurance policy is based.
REVISION HANDBOOK 2026 LIABILITY
COVERAGE AND INSURANCE LAW BASICS
◉ An individual who contracts with an adjusting firm as an
independent contractor and handles claims for the insurance
companies.
Answer: Independent Adjuster
◉ Action or practice of the insured party is permitted to continue
because any defense against a continuation of said action or practice
has been waived by the insurer.
Answer: Estoppel
◉ Operate for profit, collect premiums, reserve a portion of
premiums to pay claims.
Answer: Commercial Insurers
◉ Any person who investigates or adjusts losses on behalf of either
an insurer or a self-insured.
Answer: Independent Adjuster
,◉ The result of an insured's tort or wrongdoing. Consequences of a
loss or amount or type of losses suffered.
Answer: Damages
◉ Requires the insured to insure the named property for a specific
amount of insurance as required by the insurance company.
Answer: Agreed Value
◉ Physical harm to tangible property caused by peril (loss to
property or person in which a covered peril is the proximate cause
of damage or destruction).
Answer: Direct loss
◉ The entity that is the "recipient" to the Principal.
Answer: Obligee
◉ Insurance contracts are written on a take it or leave it basis to the
policy owner..
Answer: Adhesion
◉ Event or circumstance that causes damage.
Answer: Occurance
, ◉ Coverage provides for payment of losses if civil authority denies
access to the insured premises due to a covered peril.
Answer: Civil Authority
◉ Voluntary relinquishment of a known legal right.
Answer: Waiver
◉ An insurer domiciled outside the state where it writes insurance.
Answer: Foreign
◉ A state officer who administers the state's insurance laws and
regulations.
Answer: Commissioner
◉ Used as a promise to accept a bid if awarded to a company.
Answer: Bid bond
◉ Damaged property an insurer takes over to reduce their loss after
paying a claim.
Answer: Salvage
◉ Factual statements upon which an insurance policy is based.
