Arizona Independent Insurance Adjusters Exam
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| ___ ____ insurance is designed to indemnify an insured party for losses to property in transport, and for insuring items involved in the transportation of goods. | show 🗑
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| show | Floaters
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| Inland marine insurance policies can provide insurance protection for a variety of objects involved or assisting in the transportation of goods. These objects are known as _____ of transportation and communication. | show 🗑
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| show | •bridges •tunnels •antennas and towers for radio and TV •dams •piers and docks •pipelines •power transmission lines
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| Six different national classifications of inland marine insurance: | show 🗑
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| ____ ____ policies protect the business from losses that occur during shipment or transport of goods. This can include travel by truck, train, ship, mail, or plane. | show 🗑
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| Motor truck cargo policies protect a carrier only from ____ to goods in transport. | show 🗑
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| ___ ___ ___are designed to protect property owners from damage or losses to personal articles while in the process of transport. | show 🗑
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| ___ ____ ___ allow an individual to acquire more complete protection of valuable possessions not covered to full value by other policies such as a homeowners or commercial policy. | show 🗑
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| show | Personal Articles Floater
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| PAF's cover property on an ___ ____. | show 🗑
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| show | •war •nuclear hazards •wear and tear •insects and vermin •spoilage •gradual deterioration
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| Personal inland marine insurance and PAF's cover a wide variety of seemingly unrelated items that are divided into classes, including but not limited to: | show 🗑
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| Commercial property floaters are designed to protect the property of a business that is not at a ___ ____. Generally speaking this property may not be 100% in the control of the business holding the policy. | show 🗑
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| show | bailee
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| show | bailee's commercial property floater
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| show | Contractors equipment floaters
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| show | Cold Storage Locker Floater
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| show | Block policies
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| show | Physicians and Dental Equipment Floater
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| show | Theatrical Property Floaters
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| show | Worldwide
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| show | personal articles while in the process of transport
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| show | Ocean marine
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| There are four types of ocean marine insurance: | show 🗑
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| show | Hull policies
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| Cargo is defined as the actual goods or property being shipped. ___ ___ provides insurance protection to the goods and property in transport. | show 🗑
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| show | freight Freight insurance protects the vessel owner in the event the freight costs are not paid. Freight insurance will indemnify the policyholder for these uncollected freight fees. Freight ins.is often combined with hull coverage
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| show | P&I coverage
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| show | the seller of goods assumes responsibility for the cargo until it reaches a specific point, where the buyer assumes responsibility
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| A cargo ship owner hull policy has a franchise deductible of $100,000. The vessel sustains $110,000 worth of damage due to a fire. How much will the insurer be responsible for? | show 🗑
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| In Ocean Marine Insurance, the Free of Particular Average Clause (FPA) clause is said to serve as a deductible of sorts for cargo, because it: | show 🗑
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| ____ _____ products are designed to provide property coverage for the hull of an aircraft and various liability coverages for bodily injury and property damage resulting from the use of an airplane. | show 🗑
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| show | all risk with a percentage deductible
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| show | the United States, Canada, Mexico, and the Bahamas if specified in the insurance contract
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| Workers' Compensation is a “_____” policy, which means that work-related injuries are covered, regardless of fault. | show 🗑
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| show | Black Lungs Benefits Act
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| protects injured seamen by allowing them to sue for damages and to choose a jury trial | show 🗑
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| show | monopolistic and competitive
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| States that have special legislation that requires Workers' Compensation Coverage to be provided exclusively by the State's Workers' Comp program are: | show 🗑
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