Insurance: Property & Casualty 181 Correctly Answered Questions Latest Update

Occurrence Coverage Form {Ans: Liability coverage for injury or loss that occurs only during the policy period, regardless of when the claim is actually made.}Agent {Ans: The state-licensed professional who represents the insurance company in the sale and servicing of insurance. The direct link between the insurance company and the policyholder.}Misrepresentation {Ans: Statement of something that is known to be untrue.}Custodian {Ans: Pertaining to Crime insurance, the insured or a regular employee or partner of the insured who has care or control of property within the premises. Does not include watchman, porter or janitor.}Messenger {Ans: In Crime insurance, any regular employee of the insured who has care or control of the property outside the premises. Also includes the insured, a partner, or officer.}Morale {Ans: An attitude of "not caring" about the property, making it more likely for a loss to occur, is a __________ hazard.}Property Damage {Ans: A type of loss covered under many liability contracts. Includes the insured's liability for damage to property of others or loss of use of others' property.}Exclusions {Ans: The section of the insurance policy which lists property, perils, persons, or situations which are not covered under