Basic Insurance Terms and Theories
Basic Insurance Terms and Theories: Overview
This topic covers concepts, such as, Premium, Beneficiary, Coinsurance, Pre-Existing Conditions & Types of Insurance etc.
Important Questions on Basic Insurance Terms and Theories
Shares premium can be used in _____.
Which of the following is/are the various types of insurance?
Life insurance
Health insurance
Liability insurance
The insurance companies collect a fixed amount from its customers at a fixed interval of time. What is it called?
____________ is /are the monopoly of General Insurance Company.
Which type of insurance can covers two or more items or location ?
What is an individual who sells, services, or negotiates insurance policies either on behalf of a company or independently called?
The insurance in which risks are shared between multiple insurers is known as?
Which of the following is an example of Broad Form Insurance?
Which type of insurance usually requires higher premium?
_____________ is /are the monopoly of General Insurance Company.
What covers professionals for negligence and errors or omissions that injure their clients?
A form of liability insurance providing coverage for negligent acts and omissions such as workers compensation, errors and omissions, fidelity, crime, glass, boiler, and various malpractice coverage is called?
An insurance policy, which is provided as an additional layer of security to those who are at risk of being sued for damages to other people’s property or injuries caused to others in an accident, is known as:
What is the form of long-term care policy that covers a policyholder’s stay in a nursing facility called?
The Coinsurance is specified by
________covers operators of nuclear reactors and other facilities for liability and property damage in the case of a nuclear accident and involves both private insurers and the federal government.
What is a coverage that guarantees Bondholders timely payment of interest and Principal even if the issuer of the bond’s defaults?
What is the coverage designed to protect businesses from liabilities that arise from the conduct of business over the Internet, including copyright infringement, defamation, and violation of privacy?
This broad type of coverage was developed for shipments that do not involve ocean transport and is known as
What is the coverage for glass breakage caused by all risks?
