Wy P&c Lincence Exam - Real Examfx Questions And Answers -Passguaranteed

What part of the insurance contract describes the covered perils and the nature of coverage of the contractual agreement between the insurer and the insured? {Ans: Insuring agreement}Medical benefits under workers compensation statutes are provided {Ans: Without limit}An insured has decided to never drive another vehicle and wants to transfer his auto insurance policy to his wife. What does the insured need to transfer the policy? {Ans: The written consent of the insurer}A producer continues to use an unapproved trade name for 10 days after being notified by the Commissioner to stop using the unapproved name. What is the maximum fine the producer may face? {Ans: $5,000}If the premiums collected by an insurer participating in the WYO flood program are insufficient to cover losses, which of the following would be true? {Ans: The insurer will be reimbursed for the excess costs by the NFIP.}What amount of coverage is provided on HO policies for watercraft? {Ans: Up to $1,500}What kind of coverage does Form DP-3 provide? {Ans: Open peril}Which type of damages is intended as a form of punishment for negligent, willful, or outrageous intent? {Ans: Punitive}Restoring an insured financially after a claim