General Insurance Concepts Crossword

Insuring of risks more prone to loss than the average risk
a legal representative of an insurance company
a person applying for insurance
conditions aht increase the probability of a loss
Hazard that is a tendency toward increased risk
indifference to loss
restoring the insured to the condition that existed before loss
transfer of risk of loss from an individual to an insurer
solicitation, negotiations, or effectuation of a contract
the person covered by the insurance policy
a company that issues an insurance policy
the larger the number of people with the same expousre t oloss, the more predictable the acutal loss will be
the cause of loss
the person who has the rights and privleges in the policy
uncertainty or chance of a loss
type of risk that is insurable
risk that can either be a loss or gain, uninsurable
type of insurance ownership that pays dividends to the policyowners
type of insurance company that has stockholders
has the authority to transact business in a state (has a certificate of authority)
Home office is in another state
home office is located in state where conducting business
home office located in another country
offer and acceptance required element of insurance contract
exchange something of value (required element of insurance contract)
of legal age and mentally competent
must have insurable interest and consent
only one party is legally bound to a contract
certain condiations must be met by both parties for the ocntrac to be executed
an untrue statement on the insurance application
a statement that , if discovered can alter the underwriting decision
an absolutely true statement
intentional withholding of material information
intentional act with the purpose of deceiving another party
acts of the agents within the scope of their authorityare deemed to be the acts of the insurer
written in the contract
assumed necessary to conduct business
based on the agent's words and actions