And Casualty Insurance Exam Study Guide 2024 Updates

Gramm-Leach-Bliley Act {Ans: requires financial institutions to ensure the security and confidentiality of customer data}application {Ans: primary source of underwriting information}Perils {Ans: causes a loss}Symbol 6 {Ans: Owned autos subject to compulsory uninsured motorist law - Designates owned autos required to have no-fault benefits in a particular state}contractual liability {Ans: insured assumes another's liability under a written agreement}farm property coverage d {Ans: loss of use, dwelling related (farm)}the adoption of regulations {Ans: the director has the authority to make rules and regulations to help administer the provisions of the Alaska insurance laws. Regulations that require hearings are not effective until they are on file in the Director's office for at least 10 days}warranty {Ans: a statement that is guaranteed to be true, and it may be relied on by the other party. if a warranty is not kept, there is a breach of warranty that voids the contract}Coverage E {Ans: Personal Liability; covers claims for bodily injury to others}limits of insurance {Ans: maximum coverage limits, listed on declarations page}casualty {Ans: covers non-property losses (3rd Party)}Underinsured Motorist Coverage {Ans: pays the difference between the insured's actual damages for bodily