Florida Claims Adjuster Study Guide Pdf - 2024

Subrogation {Ans: When an insured has a right to collect damages from another party but elects to claim damages under his/her insurance policy; rights transfer to the insurer}Implied Waiver {Ans: May result from some act of neglect on part of the adjuster}The Business Automobile Policy includes all of the following coverage forms except: A. The Garage Coverage Form B. The Trailer Interchange Coverage Form C. The Truckers Coverage Form D. The Business Auto Coverage Form {Ans: B. The Trailer Interchange Coverage Form}Frank has a not-at-fault accident, he has basic PIP, no deductible and Med pay of $5,000. How much will his Med Pay contribute to medical bills of $15,000? A. $15,000 B. $5,000 C. $3,000 D. $0, Frank is not-at-fault {Ans: B. $5,000 Medical Payment limits apply per person; Frank will receive full amount towards medical bills.}What are the components that make up the investigation process? {Ans: Inquiry, verification, comparison}The Insurer's responsibility to pay for a property loss may be conditioned on the insured having used reasonable means to avoid the loss, to protect the property against further loss, and to give the insurer proof of the loss is defined as? A. Conditional Contract B.