Exam topics

Property, casualty, contract, and Texas-specific concepts in the published outline.

Showing 191–200 of 280 articles · Page 20 of 28

Products-Completed Operations Coverage TriggerProducts-completed operations coverage addresses certain bodily injury or property damage away from the insured’s premises that is caused by the insur…
Commercial Deposit Premium and Premium AuditsA deposit premium is an estimated amount paid toward coverage when the final exposure is not yet known. If the policy is adjustable, the insurer later…
Risk Retention Groups in InsuranceA risk retention group (RRG) is a member-owned liability insurer formed under state law and the federal Liability Risk Retention Act. Its insured memb…
Ambiguous Insurance Policy Language in TexasUnder Texas law, a policy is ambiguous only when, after reading the contract as a whole, it is reasonably susceptible to two or more meanings. A disag…
Insurance Company Financial Strength RatingsA financial-strength rating is an outside opinion about an insurer’s ability to meet its obligations, not a guarantee that a particular claim will be …
Farm Buildings and Equipment CoverageFarm property coverage can treat the dwelling, barns, silos, fences, machinery, livestock, crops, and household contents as separate classes. A farmow…
Personal Lines vs. Commercial Lines InsurancePersonal-lines insurance is designed primarily for individuals and households, while commercial-lines insurance addresses business entities, operation…
Key Characteristics of an Insurance ContractInsurance contracts are commonly described as aleatory, unilateral, conditional, personal, and contracts of adhesion. These terms describe the exchang…
Insurance Rating Methods: Manual, Experience, Schedule, and RetrospectiveInsurance rating methods convert expected losses, expenses, and risk characteristics into a premium. Manual or class rating starts from a base rate an…
Treaty vs. Facultative ReinsuranceTreaty reinsurance covers a defined portfolio or class of risks automatically under an agreement, while facultative reinsurance is individually evalua…