Personal Lines- Arkansas Unit 3
Which insurance covers personal belongings, loss caused by covered peril, and first
party losses? - answer Property Insurance
Casualty Insurance - answer insurance that covers for losses due to accident, chance,
or negligence
Casualty= _____ - answer Liability
Third Party Losses - answer First Party - (me) insured
Second Party- my insurer
Third Party- other guy
Policy Sections (DICEE) - answer Declarations
Insurance Agreements
Conditions
Endorsement
Exclusions
Declarations - answerwho, what, when, where, and how much
Insuring Agreement - answerpromise to pay and perils covered
Conditions - answerrules for the policy
Endorsement - answerchanges to original policy
Exclusions are ____ _______ - answernot covered
Payment for additional expenses that are not normally covered and may have a
separate limit of insurance refers to - answerAdditional/Supplementary coverage
Insured that are in the declarations - answername insured
insured first in the declarations - answerfirst name insured
insured that are added by endorsement - answeradditional insured
When the policy begins and ends refers to - answerpolicy period
Where a loss must occur refers to - answerPolicy territory
