Banking

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Across
  1. 2. Agent who represents only one insurance company.
  2. 6. Licensed representative who sells insurance for a company.
  3. 7. Maximum amount an insurer will pay for a covered loss.
  4. 9. Person or entity designated to receive policy proceeds.
  5. 10. Another term for an insurance company that underwrites coverage.
  6. 12. Cause of loss insured against (e.g., fire, wind).
  7. 16. Person who investigates claims and determines payment amounts.
  8. 17. The written insurance contract.
  9. 21. Cost-sharing percentage the insured pays after the deductible.
  10. 23. Costs the insured pays that are not reimbursed by insurance.
  11. 25. Premium method based on an insured’s prior loss history.
  12. 27. Intentional deception to obtain insurance benefits unlawfully.
  13. 28. Risk increase due to dishonesty or reckless behavior.
  14. 30. Legally binding agreement; an insurance policy is one.
  15. 32. Eligible for coverage because the risk can be accepted and priced.
  16. 35. Request for payment under the terms of an insurance policy.
  17. 36. Optional add-on that modifies or adds coverage to a policy.
  18. 40. Coverage for movable items, often scheduled (e.g., jewelry).
  19. 41. Damage, injury, or financial harm that may be covered by insurance.
  20. 42. Condition that increases the chance or severity of a loss.
  21. 44. Amount paid to keep insurance coverage in force.
  22. 45. Form used to request insurance and provide underwriting information.
  23. 48. Person or entity covered by the policy.
Down
  1. 1. Failure to use reasonable care, leading to harm.
  2. 3. An unexpected event that results in injury or damage.
  3. 4. Company that provides coverage and pays covered losses.
  4. 5. Temporary proof of coverage before the policy is issued.
  5. 8. Intermediary who shops coverage from multiple insurers for a client.
  6. 10. Auto coverage for non-collision losses like theft or hail.
  7. 11. Termination of coverage due to nonpayment of premium.
  8. 13. Legal responsibility for injury or damage to others.
  9. 14. Party to whom a policy owner transfers certain policy rights.
  10. 15. An event that triggers coverage under an occurrence-based policy.
  11. 18. Amendment that changes a policy’s terms or coverage.
  12. 19. Compensation paid to an agent or broker for selling a policy.
  13. 20. Submission of required information or documents (e.g., premium reports).
  14. 22. Process of evaluating risk and deciding coverage and price.
  15. 24. Insurance purchased by an insurer to spread risk.
  16. 25. Specific loss or condition that a policy does not cover.
  17. 26. Extra time after the due date to pay without losing coverage.
  18. 29. Protection provided by the policy for specified losses.
  19. 31. Amount the insured pays before the insurer begins to pay.
  20. 33. Insurer’s right to recover from a third party after paying a claim.
  21. 34. Professional who uses statistics to price risk and set premiums.
  22. 37. Fixed amount paid for a covered health service.
  23. 38. Policy provisions that describe duties and rules for coverage.
  24. 39. Decrease in value over time; affects actual cash value claims.
  25. 43. Auto coverage that pays for damage from hitting another object/vehicle.
  26. 46. Contract that provides a stream of payments, often for retirement.
  27. 47. Principle of restoring the insured to the financial position before loss.