Exam topics

Showing 201–210 of 280 articles · Page 21 of 28

• Risk Control vs. Risk FinancingRisk control changes the chance or severity of a loss through measures such as avoidance, prevention, and reduction. Risk financing decides how the or…
• Texas Farm Mutual Insurance CompaniesA Texas farm mutual insurance company is a specialized insurer organized under Insurance Code Chapter 911. It must hold a certificate of authority to …
• Texas Job Protection InsuranceTexas Insurance Code Chapter 962 defines job-protection insurance narrowly: it indemnifies specified transportation workers for income loss after disc…
• What Counts as Transacting Insurance in Texas?Texas Insurance Code §101.051 identifies acts that constitute the business of insurance in Texas, including making or proposing an insurance contract …
• The Standard Fire Policy: Coverages, Conditions, and Claim StepsThe Standard Fire Policy is a foundational fire-insurance form used in insurance education to teach basic property coverage, policy conditions, exclus…
• Liberalization Clauses in Property InsuranceA liberalization clause may automatically extend coverage when the insurer adopts a qualifying broader form within a specified window and without extr…
• Reservation of Rights Letters in InsuranceA reservation-of-rights letter tells an insured that the insurer will take a specified action, often defend a liability suit, while preserving identif…
• Marine Protection and Indemnity (P&I) CoverageMarine protection and indemnity (P&I) coverage generally addresses a vessel owner’s or operator’s legal liabilities to other parties, such as certain …
• The Marine Running-Down ClauseA marine running-down clause is a collision-liability provision commonly attached to hull insurance. It may cover the insured shipowner’s legal liabil…
• General Average vs. Particular Average in Marine InsuranceGeneral average is a maritime loss-sharing principle: when an extraordinary and intentional sacrifice or expenditure is reasonably made for the common…