Unit 1 - General Insurance

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Across
  1. 3. Risks for which the insurance company would be liable (1 Word)
  2. 8. Chance of loss or gain and not insurable (2 words)
  3. 10. Insurance sold by unauthorized/non-admitted insurers and can only be sold to certain high risk insureds (2 Words)
  4. 11. This method of marketing can represent more than one insurance company (1 Word)
  5. 14. Not equal value. Small premium for a large amount of coverage(1 Word)
  6. 17. Handling a risk by sharing it amongst a group of people or business (1 Word)
  7. 20. Voluntarily giving up a right
  8. 21. This type of hazard can be seen (1 Word)
  9. 29. An insurer publicly owned by stockholders/shareholders (2 Words)
  10. 30. Giving something of value (1 Word)
  11. 31. Pay for the loss but with no gain (1 Word)
  12. 32. This type of hazard is carelessness (1 Word)
  13. 34. What agent authority is written in the agents contract with the company (2 Words)
  14. 36. This method of handling risk is doing something to lower the risk to reduce chance of loss (1 Word)
  15. 38. This hazard is a belief that intentionally causing a loss is acceptable (1 Word)
  16. 40. An insurance company incorporated in any country other than the USA (1 Word)
  17. 44. Only ONE promise made (1 Word)
  18. 45. An insurance company(the ceding company)paying another insurance company (1 Word)
  19. 47. This agent authority is what an agent does that a reasonable person would assume as authority (2 Words)
  20. 49. Intentional act to cheat another (1 Word)
  21. 52. Failure to disclose (1 Word)
  22. 54. Who is considered the 2nd party of a contract (1 Word)
  23. 55. A group of businesses from the same industry joining together to buy liability insurance from an insurance company (3 Words)
  24. 56. Transfer of risk (1 Word)
  25. 57. This method of marketing can only represent one insurance company (1 Word)
  26. 58. Something that causes an increase in the chance of loss (1 Word)
  27. 59. Any insured age 18 and sane (2 Words)
  28. 60. An agreement between the insured and the insurer (1 Word)
Down
  1. 1. State license for an insurance company(3 Words)
  2. 2. The insurance agent acts on behalf of the principal(1 Word)
  3. 4. The insured and insurance company have a right to expect honesty from each other(3 words)
  4. 5. A cause of loss (1 Word)
  5. 6. Liability insurance company created for and owned by policyholders from the same industry (3 Words)
  6. 7. The larger the group, the more accurate losses can be predicted (4 Words)
  7. 9. This method of handling risk is self insuring(1 Word)
  8. 12. A report card of the company (3 Words)
  9. 13. This method of marketing is where no agent or producer is involved. Typically done by mail,television, etc. (2 Words)
  10. 15. Insurance provided by individual underwriters,not companies (2 Words)
  11. 16. The state requires the insurance company to have a certificate of authority (1 Word)
  12. 18. Unauthorized;Insurance company not required to have a Certificate of Authority (2 Words)
  13. 19. A position of a financial trust (2 Words)
  14. 22. What agent authority is not written but are things agents normally do to sell insurance (2 Words)
  15. 23. An insurance company located in the state where the company is incorporated (1 Word)
  16. 24. This method of handling risk is not taking the risk at all (1 Word)
  17. 25. Risks that have a greater than average chance of loss (2 Words)
  18. 26. Type of insurer where the members are subscribers (2 Words)
  19. 27. Insured must pay the premium for coverage and file a claim if a loss occurs (1 Word)
  20. 28. Retaining risk rather than transferring risk (2 Words)
  21. 33. Must be a member of the society to get the benefit with this insurer (2 Words)
  22. 35. Uncertainty/Possibility of loss (1 Word)
  23. 37. Type of insurer owned by the policyholder (2 Words)
  24. 39. Who is considered the 1st party of a contract (1 Word)
  25. 41. A promise or guaranty (1 Word)
  26. 42. Insurance from the state or federal government (2 Words)
  27. 43. These risks are calculable, affordable, noncatastrophic, homogeneous, accidental and measurable (1 Word- Hint:Acronym)
  28. 46. An insurance company located in any state or US territory other than the state where incorporated (1 Word)
  29. 48. Policy written by the insurance company and is take it or leave it. Customer has no say. (1 Word)
  30. 50. Believed to be true (1 Word)
  31. 51. The number one method of handling risk (1 Word)
  32. 53. The acronym used for a legal contract (1 Word-Hint:acronym)
  33. 57. Actions reasonably relied on by one party can't be denied by the party that accepted same previously (1 Word)