Personal Lines Chapters 1-3

1234567891011121314151617181920212223242526
Across
  1. 1. Having a financial stake/interest in property
  2. 3. A large grouping of homogenous units with the same perils
  3. 6. Termination of coverage during the policy period
  4. 9. Temporary Coverage
  5. 12. The insurance company keeps the premium earned during the policy period
  6. 14. Provides insurance advice for a fee
  7. 16. To make whole and not profit
  8. 17. Ex: Finding out a customer has vinyl countertops when they said they have granite
  9. 19. Where duties and obligations of the Named Insured and Insurer are listed
  10. 20. Transfer of risk
  11. 21. Setting your house on fire and then filing a claim
  12. 23. Not listed on insurance binder
  13. 24. Identifies the perils covered
  14. 26. Ex: Toys on a staircase
Down
  1. 2. A policy addition that is not included in the standard parts of the policy
  2. 4. Ex: Leaving your car running while you go into the gas station
  3. 5. Acronym for a resident agent/producer requirements
  4. 7. Courses needed to maintain status of your insurance licensed
  5. 8. The Named Insured keeps the unearned premium minus a penalty
  6. 10. Not covered under the policy
  7. 11. Has the authority to examine and investigate any person or business licensed in VA
  8. 13. Used when there is a dispute about the value of something
  9. 15. Only one party makes a promise
  10. 18. Both parties perform certain duties
  11. 22. An individual that is licensed to act as an insurance agent in VA
  12. 25. Ex: Fraud or Arson