York State Property And Casualty Insurance Exam Set Question & Answers | Passed Latest Update

Under Coverage F - Medical Payments of the homeowners program, what is the time limit for expenses to be covered following an accident? {Ans: 3 years; Coverage F refers to medical payments coverage. It pays without regard to the negligence of the insured. All covered expenses up to the specified limit are paid for up to three years.}A commercial inland marine condition defining the insurer's subrogation rights: {Ans: Guarantees the insurer's ability to recover from a third party who is responsible for a covered loss; When the insurer pays a covered claim caused by a third party, the insurer can seek reimbursement for the loss if they can prove negligence or responsibility on the part of the third party.}Under the "regular program" a flood insurance policy will insure a single family residence up to: {Ans: $250,000; The limit under the regular flood program is $250,000. Under the emergency flood program the dwelling is covered for only $35,000.}Water damage to an insured building covered under the Commercial Property - Special form would be covered under all of the following circumstances, EXCEPT: {Ans: Water damage to the building caused by a pipe that has leaked over a period