Across
- 2. acronym for a coverage in a homeowner's policy that indemnifies the insured for additional expenses that are incurred following a covered property loss so the household can maintain its normal standard of living while their home is being restored.
- 3. failure to exercise the level of care that a reasonable prudent person would do in a similar situation
- 5. reduction in value caused by the physical wear and tear
- 7. document that amends an insurance policy
- 8. a party who makes a claim.
- 10. insurance policy should provide a benefit no greater than the loss suffered by the insured
- 11. intentional harmful physical contact with a person
- 13. disputing parties use a neutral outside party to examine the issues and develop a mutually agreeable settlement; avoids litigation.
- 14. a policy provision that eliminates coverage for specified exposures
- 15. threat of force against a person that creates fear
- 16. the process an insurer can, after it has paid a loss under the policy, recover the amount paid from any party (other than the insured) who caused the loss.
Down
- 1. cost to repair or replace property using new materials of like kind and quality with no deduction for depreciation
- 4. a risk control technique that reduces the frequency of a particular loss; a business installs bars on windows to prevent burglaries.
- 6. any phrase or clause in an insurance policy that describes the policy's coverages, exclusions, limits, conditions, or other features.
- 9. type of examiner/adjuster who handles claims for insurers for a fee.
- 12. law that develops out of court decisions and establish precedents for future cases