Insurance Vocab Unit 1

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Across
  1. 2. someone who legally represents the insured, soliciting or accepting applications for insurance that is not in force until the company accepts the business
  2. 3. a situation in which some kind of loss is possible
  3. 4. a contract written to protect individuals named in the policy against specific future losses
  4. 7. the amount an insured pays on a claim before the insurer pays the remainder
  5. 9. an individual usually but not always the buyer, covered by an insurance policy
  6. 12. and insurer's determination that an individual meets the company's criteria to be insured
  7. 15. financial protection purchased to compensate for loss
Down
  1. 1. protection against a specific kind of loss
  2. 5. the process fo assessing applicants for insurance to determine whether they are a good risk
  3. 6. person who settles claims; and agent, company adjuster, independent adjuster, adjustment bureau, or public adjuster
  4. 8. legal responsibility
  5. 10. a request to cover losses from a specific event
  6. 11. payment made by the insured to the insurer
  7. 13. the company or agency that writes an insurance policy
  8. 14. someone who legally represents the insurer, has the authority to act on the insurer's behalf, and can bind the principal by expressed powers, by implied powers, and by apparent authority