Property & Casualty Insurance Study Guide Questions And Answers 2023 With Complete Solution

Coverage B {Ans: Medical Payments - Optional coverage that can be used by the Named Insured and family members that applies for accidents occurring while occupying the vehicle and even when struck as a pedestrian coverage applies to reasonable expenses incurred with in three years from the date of accident for necessary medical and related services. Payment regardless of fault Covers the Insured: • Named Insured • Spouse • Family Members • Passengers Medical payment coverage limits are per person, per accident}Blanket bonds {Ans: covers all employees}Fidelity Bonds {Ans: -Bonds that are a form of insurance that protects an employer against losses sustained due to acts of dishonest employees. -Those that benefit from this protection are: 1.Businesses 2.Non-profits 3.Churches *MOST LIKE AN INSURANCE POLICY *DISHONESTY INSURANCE}Absolute Liability {Ans: without defense; impacts employers involving workplace accidents; such as employer's worker's compensation coverage for workplace accidents, based on Absolute Laws. (Employers)}LIABILITY COVERAGE {Ans: COVERAGE A}APPEAL BOND {Ans: - Covered under Coverage A - unlimited dollar amount}