Property Casualty Insurance Basics
Technically the basic function of property casualty insurance is the transfer of risk. Property Casualty Insurance Basics 0 credits 3.
What is Property and Casualty Insurance.
Property casualty insurance basics. Parts of a Policy. Create a smart strategy to help you protect and grow your business. General Insurance Concepts Section 1 85 Terms.
OTHER SETS BY THIS CREATOR. Property Casualty Insurance Basics IIKs Insurance 101 document has a great deal of information but it is not comprehensive. PC insurance does not include other types of.
Lets talk about some of the basic elements of property and casualty. Casualty insurance mainly protects you against legal liability for bodily injury BI andor property damage PD you cause to other people. Insurance that provides a business with financial.
Perils Real Property - Land and attached structures Personal Property - Items not attached to land or dwelling such as clothing jewelry etc. Final Exam 143 Terms. If a thief were to break into your home you would be protected up to your covered limits under your homeowners insurance policy.
Example topics include limited-pay single-premium life and ordinary whole life. Use this informative property and casualty insurance glossary to better understand basic insurance terms and definitions. Learn property and casualty insurance basics with free interactive flashcards.
Consider Property Casualty insurance coverage. Example topics include declarations. Therefore we have included several documents produced by national organizations which serve as an excellent complement to our Insurance 101.
The topics covered on the Property Casualty Insurance Exam depend on the state board. Casualty insurance means that the policy includes liability coverage to help protect you if youre found legally responsible for an accident that causes injuries to another person or damage to another persons belongings. One of the most important types of casualty insurance is liability insurance.
Casualty Insurance - Protection against financial loss due to legal liability as a result of bodily injury BI or property damage PD resulting from an accident caused by an insured. Not only that but they also keep you covered with liability coverage in case some accident occurred on someone else and they were harmed or something they owned was damaged where you might be found at fault. Property-Casualty Insurance Basics was developed to provide you a general over-view of the property-casualty industry and offer some basic information on how our business began and how it operates today.
Property and casualty insurance is a broad insurance which includes coverage to your structure property and belongings in the event of vandalism theft and more. Below are some of the possible categories for this exam. What is Property Casualty PC coverage.
While the products cover a wide variety of areas they are all designed to protect the client from financial issues that could come from any kind of damage or injury caused to others. To put it in general terms property and casualty insurance cover the things that you actually own. 3 Liability and Damages.
Its aim is to reduce financial uncertainty and make accidental loss manageable. Learn insurance industry vocabulary that will help you better understand your insurance policies. How Does Property Casualty Insurance Work.
Types of PC insurance are homeowners insurance condo insurance co-op insurance HO4 insurance liability insurance pet insurance and car insurance. Choose from 500 different sets of property and casualty insurance basics flashcards on Quizlet. Liability losses are losses that occur as a result of the insureds interactions with others or their property.
Elements of a Negligent Act. Property and casualty insurance covers a broad range of products that are designed for personal and commercial clients. The Basics Key Things You Need to Know.
Through AIAs dedicated staff and in-house policy team we stand ready to assist your office on the pressing issues facing the. Property Casualty Insurance Exam Topics. Property insurance helps cover stuff you own like your home or your car.
In other words liability or casualty coverage will pay for accidental damage you cause to another person or their property. Property. Property and Casualty Insurance Explained.
Property Casualty Insurance Basics 23 23 items 80 Terms. Casualty Insurance Casualty insurance is more difficult to define because it includes a wide variety of basically unrelated insurance products. Property Insurance - Protection against financial loss due to loss of or damage to real or personal property due to fire windstorm hail etc.
General Ins Laws and Ethics 2 Terms. Property and casualty insurance or PC insurance is an umbrella term to describe a bunch of different types of insurance covering your personal property and offering liability coverage. Auto Insurance 44 Terms.
