Insurance Vocab Unit 1

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