Question
What is coverage for flood damage is available from the
federal government under the National Flood Insurance Program but is sold by licensed insurance agents?Solution
Flood insurance is a type of property insurance that covers a dwelling for losses sustained by water damage, as it specifically relates to flooding. A separate coverage rider is needed to cover sewer backup, if the backup was not caused by the rising floodwaters.
What is the term used to describe the process of transferring a portion of risk to another insurer?
The primary purpose of a motor insurance policy is to:
A 'Cover Note' in motor insurance is:
General Insurance Business (Nationalisation) Amendment Act 2002 (40 of 2002) coming into force from?
The Life Insurance Companies Act was passed in which year?
What is the purpose of "excess" in an insurance policy?
A single insurance policy that combines several coverage previously sold separately is termed as?
What is the value of the bond whose Face value is Rs.1000 having a coupon rate of 10% when the required rate of return is 14%?
What are moral hazards in underwriting?
What is the ceiling of annual premium in a Micro Variable Insurance Product?
