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Liability insurance is a type of insurance that protects individuals and businesses from claims of negligence or wrongdoing. This type of insurance is essential for any organization or individual who wants to protect their assets and ensure that they are not held responsible for any harm or damage caused to others. Liability insurance covers a wide range of potential incidents and can help protect against lawsuits, settlements, and other related expenses.
While it's not the trivia category that may first comes to mind, there's a lot to uncover!
1. From 1985 until 2016, MetLife obtained the licensing rights to use Snoopy and other famous characters from what comic strip series for their commercials and advertisements?
Answer: Peanuts
2. What federation of motor clubs, known for its roadside service and its repetitive acronym, was founded in 1902 in Chicago, Illinois? It is a privately held not-for-profit national member group.
Answer: American Automobile Association
3. Progressive is one of the most well-known insurance providers that offers which type of “forgiveness”—for example, if you wreck your car, you might be able to get some extra coverage so that your rate won’t go up?
Answer: Accident
4. Professional negligence and failure to perform professional duties can be covered by an E&O policy, namely "errors" and what thing we forgot?
Answer: Omissions
5. Many people think her lawsuit was frivolous, but Stella Liebeck needed skin grafts for the third-degree burns the drive-thru disaster caused. She just wanted McDonald’s to pay $20,000 to cover her medical bills. When they said no, the case picked up steam. Which menu item was involved in the famous 1994 product liability suit?
Answer: Coffee
6. Which American insurer founded in 1912 is headquartered in Boston but has an NYC landmark in its logo? (Hint: You might recall the company’s mascot—an emu—from the TV commercials.)
Answer: Liberty Mutual
7. A 1995 storm known as the Mayfest Storm thunderstorm escalated dramatically and caused almost $2 billion of damage in Texas when it deposited 18 inches of what type of precipitation on the citizens of Palo Pinto and Parker Counties?
Answer: Hail
8. For insurance valuation purposes, actual cash value of property is defined as replacement cost minus what D-word that means decrease in value due to wear, tear, and/or the passing of time?
Answer: Depreciation
9. What insurance provider, founded in 1931 in Illinois, offers liability among other insurance services, and owns Esurance? Their logo appropriately features two outstretched palms.
Answer: Allstate
10. Which kind of policy will still cover a claim even if you file it after your policy period ends?
Answer: Occurrence
11. What kind of liability insurance would be a handy thing to have in the event of a catastrophic loss raining down on you, so to speak, and your other insurance has run dry?
Answer: Umbrella
12. CPL is personal liability coverage which can be found in homeowner's insurance policies. What sort of coverage is it, as denoted by the "C"?
Answer: Comprehensive
13. Frequently associated with health insurance, what is the term that represents the amount of money paid by an insured individual before the payments from the insurance company kicks in?
Answer: Deductible
14. What “C” term can be used to describe a first or third party in an insurance dispute, basically any person who asserts right of recovery?
Answer: Claimant
15. Liability insurance is offered by what insurance company, which has a buck for a mascot and is “The” company associated with its Connecticut city?
Answer: The Hartford
16. Which kind of policy can your company get (either as part of a general liability policy or as a separate policy) to cover you in the event that something you’ve made and sold to consumers causes injury or damage?
Answer: Product
17. Regis Philbin, Meredith Vieira, and Terry Crews all hosted what game show with an insurance policy that covers them if a contestant wins the titular jackpot amount?
Answer: Who Wants to Be a Millionaire?
18. In the insurance business, what is the name for a person whose job it is to analyze statistics to calculate risks and price premiums accordingly?
Answer: Actuary
19. What is the "U" term for insurance that is considered excess of other specific policies for a policyholder? These plans originated in the late 1940s and were popularized in the 1960s in the U.S.
Answer: Umbrella insurance
20. What is the seven-letter term for a life insurance policy that provides fixed payments over a fixed period rather than a lump sum?
Answer: Annuity
21. The first known mortality tables were published in England in 1693 by what man more famously associated with a recurring comet?
Answer: Sir Edmund Halley
22. North Michigan Avenue in Chicago is home to what “central” 100-floor skyscraper, funded by a life insurance company which got its name from a president of the Continental Progress with an alleged big signature?
Answer: John Hancock Center
23. Well-known for waggling it on stage, KISS singer Gene Simmons took out a $1 million insurance policy on what specific body part?
Answer: Tongue
24. Liability insurance is available from what “T” insurance website, whose logo is a green metal cap with a closed end, used to protect the finger and to push the needle while sewing?
Answer: Thimble
25. There’s a type of insurance for just about everything, including damage caused by which ceiling-based watering system for putting out fires?
Answer: Sprinkler
26. Because of a belief in personal liability, Warren Buffett doesn't purchase D&O insurance for Berkshire Hathaway to cover what people that the D and O stand for?
Answer: Directors and Officers
27. The short-lived TV show "Cavemen", which starred Nick Kroll, was based on a series of commercials advertising what company?
Answer: GEICO
28. Nick Dunne increases the payout on the life insurance policy of the title character, his wife Amy, causing him to become a suspect in her disappearance in what 2014 movie based on a bestselling Gillian Flynn novel?
Answer: Gone Girl
29. What is the common term used in the insurance industry that arose from the practice of each risk-taker writing their name below the total amount of risk they were willing to accept for a certain premium?
Answer: Underwriter
30. Not just for baby food, which Nestle-owned company has also offered life insurance since 1967?
Answer: Gerber
31. Keeping you from sweating in your khakis, auto insurance that covers the difference between compensation for a total loss and the amount owed on financing shares its name with what clothing store?
Answer: Gap
32. Two dudes with Midwest connections founded Farmers Insurance Group in what non-Midwest U.S. state that leads the world in almond production?
Answer: California
33. Sounding like an item that holds office papers, what B-word means a temporary insurance contract issued while an applicant waits for a formal insurance policy?
Answer: Binder
34. A general liability insurance policy may protect you in the event that something untrue and damaging to your reputation is published—the legal term for which is what?
Answer: Libel
35. In property and auto insurance, ACV is one method of determining the damage for which the insured is liable. What does ACV stand for?
Answer: Actual Cash Value
36. Policies that pay before other applicable policies and without seeking payment from other policies until the primary insurance coverage has been exhausted are "Primary and..." what?
Answer: Noncontributory
37. In what animated film does the government make superheroes illegal, forcing Robert "Bob" Parr to abandon his secret identity to become an insurance claims adjuster?
Answer: The Incredibles
38. Professional liability insurance is most often known in the U.S. as E&O, which stands for what share of words?
Answer: Errors and omissions
39. What is the term for the first page or pages of an insurance policy (called DEC pages) which give the insured's name, address, location of insured premises, and other information summarizing the policy?
Answer: Declarations
40. Chris Paul and his fictional twin brother Cliff Paul are often seen as primary spokespeople in commercials for what insurance company?
Answer: State Farm
41. Don't say Dungeons and Dragons: taking a severe fall by slipping on 12-sided dice might be covered under an AD&D insurance policy, which stands for Accidental what two "D" terms?
Answer: Death and Dismemberment
42. Which type of liability insurance protects your customer’s data in the event of a hack?
Answer: Cyber
43. In real estate speak, intrusion onto another owner's property without permission goes by what 12-letter E-word?
Answer: Encroachment
44. It sounds like a restriction you might put on your bed, but which term is actually used in property insurance to note when multiple buildings are covered under one limit rather than each one having its own?
Answer: Blanket
45. Which E-term applies to what’s not covered by your policy—for example, damage that's done on purpose, workers’ comp, or pollution?
Answer: Exclusion
46. What C-word type of liability insurance protects people and/or small businesses that help people fix or build things—think electrical wiring for a new house, installing a garage door, putting in new plumbing, or setting up a heat pump?
Answer: Contractor
47. Like an ouroboros of risk management, what term is used for the insurance that an insurance company buys from another insurance company to protect itself?
Answer: Reinsurance
48. What D-term refers to money that someone who has caused a loss has to pay either to compensate the person who experienced the loss or as a punishment for causing the loss (punitive)?
Answer: Damages
49. Dora the Explorer, former Houston Rockets center Dikembe Mutombo, and Salt-N-Pepa have all been part of ad campaigns for what insurance company?
Answer: GEICO
50. Modern property insurance today is typically considered to have been created due to what 1666 European event?
Answer: Great Fire of London
51. According to a UK insurance expert, there would be a 5 million pound payout for Jake and Elwood's drive through an Illinois shopping mall in what fraternal 1980 musical comedy?
Answer: The Blues Brothers
52. Though they're based in New Jersey, the logo for Prudential Insurance is what massive hunk of limestone at the bottom tip of the Iberian Peninsula?
Answer: Rock of Gibraltar
53. Because it is home to major offices of companies such as Aetna and Travelers, a city in what state is often nicknamed "Insurance Capital of the World"?
Answer: Connecticut
54. What “A” French startup company offers online insurance on a price-quality ratio plan, and its name is also the first name of groundbreaking computer scientist Turing and “Watchmen” author Moore?
Answer: Alan
55. By a margin of about $20 million over Berkshire Hathaway, the largest writer of property/casualty insurance in 2020 was what company with a type of property in its name?
Answer: State Farm
56. The San Francisco-based company Ethos was valued at more than $2 billion in May 2021 after spending its existence focusing on what common type of insurance product?
Answer: Life insurance
57. If you purchased "rideshare insurance" because you drive for Uber or Lyft, somewhat ironically, that would be what R-word for a policy provision that adds benefits to your basic insurance?
Answer: Rider
58. Liability insurance is available from what modern insurance company, known for its humorous commercials and characters, founded by Joseph Lewis and Jack Green with headquarters in Mayfield, Ohio?
Answer: Progressive
59. Liability insurance is offered by what California based Insurance Group, owned by the Zurich Insurance Group? They have recently run a series of commercials in which JK Simmons presents exhibits of unusual insurance cases.
Answer: Farmers Insurance
60. What “W” insurance company, whose name is a contraction of a three word phrase about career/home balance, is part of the Cameron Insurance Group? In addition to liability insurance, they also offer personal and business plans.
Answer: Woligo Insurance
61. Red-headed Flo smiles her way through Progressive Insurance commercials, while State Farm is repped by what smiling dude in a red sweater?
Answer: Jake
62. A plaintiff claims that exposure to asbestos at work caused them to get chronic lung disease. Which type of tort claim is this an example of?
Answer: Toxic
63. Which online insurance broker by Aon lets small businesses easily compare quotes from places like Liberty Mutual, Chubb, Progressive, and CNA to find the most cost-effective plan to—as its name suggests—safeguard their monetary assets?
Answer: Coverwallet
64. Which liability insurance company that’s great for freelancers has a name that might conjure up an image of a bouncy, spring-loaded childhood toy?
Answer: Pogo
65. If someone claims that you stole their idea for your company’s commercial, what kind of general injury insurance coverage would cover you?
Answer: Advertising
66. In four states, employer's liability insurance is not included as part of worker's compensation coverage. In these states, North Dakota, Ohio, Washington, and Wyoming, employers have to purchase specific employer's liability policies. What one-word term is used to describe these states?
Answer: Monopolistic
67. The year 1870 is the earliest time that what insurance company first used its iconic red umbrella logo for its advertisements?
Answer: Travelers
68. The first step in an insurer honoring their responsibility to defend the insured is to determine whether a claim is covered under the policy. This can sometimes involve applying to a court for what type of judgment?
Answer: Declaratory
69. Which kind of liability insurance is extra protection on top of your policy, and shares a name with a handheld device for staying dry in the rain?
Answer: Umbrella
70. The famous judgement on legal liability, Donoghue v. Stevenson, is more commonly known as when what animal was found in a bottle of soft drink?
Answer: Snail
71. What New England state was the first in the U.S. to have a commissioner of insurance, with the first commissioner appointed in 1851? Other states had already passed laws regulating insurance companies.
Answer: New Hampshire
72. If it turns out your business is contributing to polluting the Earth in some way, what kind of liability insurance policy can help cover the costs of remediation?
Answer: Environmental
73. What is the name for medical malpractice by an entity not in the business of offering medical services? (An example might be malpractice by an on-site nurse at a factory.) This malpractice would be covered by a general commercial liability policy.
Answer: Incidental
74. What is the name for coverage that insures contractors, allowing them to recover for the costs a contractor incurs in correcting a design defect that is discovered after construction but before the defect causes a liability claim?
Answer: Rectification coverage
75. What term is given to a policy condition whereby no claim is admissible unless the loss exceeds a specified amount, at which point the insurer pays the full amount of the claim?
Answer: Franchise
76. The Saline Substances Contamination Endorsement is a general liability endorsement that excludes liability arising from using saline substances in what sort of operations?
Answer: Drilling
77. What term beginning with ‘C’ is given to the amount of insurance or reinsurance available from one insurer or from the entire insurance market in a particular locality or country?
Answer: Capacity
78. What is the name for a policy clause that provides payment to the owner of the other vessel in a collision (when the policyholder's vessel is at fault) for costs resulting from the loss of the use of the vessel and the delay in the voyage caused by the accident?
Answer: Demurrage
79. What exclusion in some Directors' and Officers' (D & O) policies precludes claims made by individuals who own a significant percentage of a company's stock?
Answer: Major Shareholder Exclusion
80. What is the term for a clause in a contract that permits an insured to report claims made after a policy has expired or been canceled if the wrongful act that gave rise to the claim happened during the lapsed/canceled policy?
Answer: Tail coverage
81. What term is given to any outside interest in, or right to, property founded on legal grounds? Examples of this could be a mortgage, lien for work and materials, or a right of dower?
Answer: Encumbrance
82. What is the name for RV (motor home) coverage for liability that occurs from incidents while your RV is parked and being used for recreational purposes (e.g., at a campsite)?
Answer: Vacation Liability
83. Ahoy there! The "captain of the ship" doctrine applies when what professionals are held liable for the actions of subordinates under their direction and control?
Answer: Physicians
84. What type of liability can arise from the actions of agents, partners, independent contractors, employees, or children of the insured?
Answer: Vicarious
85. The AFIS certification developed by the International Risk Management Institute is designed to educate insurance professionals about issues facing insurers in what field?
Answer: Agriculture
86. When insurers set prices for miscellaneous professional liability coverage, they group unrelated professionals together into classes based on potential risk. What is this rate practice called?
Answer: Hazard Class Pricing
87. A family exclusion (which prohibits coverage when one insured family member sues another insured family member) can sometimes be found in D & O (Directors and Officers) liability coverage for what sort of company?
Answer: Privately held
88. What S term means to terminate or cancel an insurance policy before the maturity date?
Answer: Surrender
89. A&E isn't just a cable television network. In the insurance world, it refers to liability insurance for what professionals?
Answer: Architects & Engineers
90. Automobile insurance policies often include provisions covering anyone using the covered vehicle, even if not named in the policy, if they have permission to drive the car, called what type of clause?
Answer: Omnibus
91. With respect to a directors and officers (D&O) liability insurance policy, what term is a declaration by the insurer that a policy was never in effect, usually because of misrepresentation on the part of the insured?
Answer: Rescission
92. What coverage protects owners or operators of wharves or piers for liability that arises out of their business, including loss or damage to the property of others?
Answer: Wharfinger Liability Insurance
93. What is the word beginning with C used to describe a company that transfers risk by purchasing reinsurance?
Answer: Ceding company
94. What liability insurance protects private jets from damage while in the insured's custody for storage, repair, or safekeeping and while in the covered premises?
Answer: Hangar Keeper's Insurance
95. What insurance coverage, required in some countries, provides coverage to rectify a total or partial collapse of a structure for up to ten years following construction?
Answer: Decennial Liability
96. Striking the Bahamas, Florida, and Louisiana in mid-to-late August 1992 and causing dozens of fatalities along with over $20 billion in damages was what male-named hurricane?
Answer: Andrew
97. In insurance, what S-word means the assumption by a third party, such as an insurance company, of a policyholder's legal right to collect damages?
Answer: Subrogation
98. The Fujita scale is used for rating tornado intensity, and it is mostly based on the damage inflicted by the tornado on human-built structures and vegetation. What is the maximum value on the scale?
Answer: F5
99. Advertising for insurance companies has been a relatively large sector of the advertising industry for at least 100 years. The attached image of an advertising poster from the 1910s is for an insurance company in what country?
Answer: Netherlands
100. The first compulsory car insurance program was introduced with the Road Traffic Act 1930 in what country?
Answer: United Kingdom
101. Unsurprisingly, what nation had more than 50% of all liability insurance premiums written in 2013? Although the nation has probably dipped to less than 50% of the global share at this point, it is still the largest liability insurance claimholder in the world.
Answer: United States
102. Because he frequently performed dangerous stunts while filming, Daniel Craig insured his body for $9.5 million for what 2008 film where James Bond stops supervillain Dominic Greene from taking over Bolivia’s water supply?
Answer: Quantum of Solace
103. Dutch winemaker Ilya Gort was prohibited from riding motorcycles or working as a knife-thrower's assistant in an $8 million policy insuring what specific body part of his?
Answer: Nose
104. Founded in Columbus, Georgia 1955, the company Aflac's name was initially an acronym standing for what two words “Life Assurance Company”?
Answer: American Family
105. If you won’t be able to get your policy documents for a while, your insurance provider can give you a form that proves you have coverage. What term is used for this short, temporary paperwork?
Answer: Binder
106. Which hyphenated term applies to the person who is legally responsible for the damage caused by an accident?
Answer: At-fault
107. The Office Sharing Exclusion is a provision that excludes coverage for what professionals simply because they share an office with the insured professional?
Answer: Lawyers
108. What “A” term is used in liability insurance to describe the total amount of claims that a company will pay within a specified time period?
Answer: Aggregate Limit Of Indemnity
109. The first employer’s liability insurance in New York was written for Otis Brothers & Company. What modern convenience did the company manufacture?
Answer: Elevators
110. It started out as The National Union Life and Limb Insurance Company in 1863. Today, which insurance company will you find in an NYC skyscraper bearing its name on Park Ave and 45th Street?
Answer: MetLife
111. In one of the world's most famous cases of insurance fraud, the Beverly Hills ophthalmologist Steve Cooperman faked the 1999 theft of two paintings worth millions of dollars (they were being stored in a Cleveland storage locker) to claim a $12.5 million insurance payout. With one guess, name either of the two artists behind the "stolen" works.
Answer: Monet and Picasso
112. What “B” startup company allows users to get life insurance without doctor visits or traditional paperwork? It is a word that means to confer or present, and is often associated with scenes of royal pageantry.
Answer: Bestow
113. In 2003, Allstate's official spokesperson reins were put in the good hands of what deep-voiced actor who played President Palmer on "24"?
Answer: Dennis Haysbert
114. Which part of an insurance policy goes over what you’re responsible for as well as what your rights are?
Answer: Conditions
115. Which insurance company that is well known for investing the premiums wisely is based at the Blackstone Plaza in Omaha, Nebraska?
Answer: Berkshire Hathaway
116. In what country was the first employer's liability insurance law enacted in 1871, which allowed employees who were injured on the job to sue their employers? The second act of this nature was Britain's Employer Liability Act of 1880, which allowed employees to sue without having to prove that their employer was negligent.
Answer: Germany
117. "Off-duty coverage" protects what professionals when performing work-like duties outside of their regular jobs?
Answer: Police officers
118. Brownstar Insurance is the hard-to-swallow name of a company in a 2011 Ed Helms comedy film set in and named for what second-largest city in Iowa?
Answer: Cedar Rapids
119. Workers’ compensation laws were first introduced and implemented in the 1880s by what "Iron Chancellor" of Germany?
Answer: Otto von Bismarck
120. According to several sources, what is the most commonly broken bone in the human body? Hint: It's above your waist.
Answer: Clavicle (collarbone)
121. When discussing liability insurance incidents, there's a particular type of case in which an individual is obliged to pay for the losses or damages incurred by a different person in the event of an accident. What is this "i" case?
Answer: Indemnification
122. What is the term for a liability policy that provides coverage only for losses occurring from causes specifically mentioned in the policy, as opposed to general liability?
Answer: Named perils
123. The Rhode Island-based insurance company Amica was originally founded to cover fire, theft, and what other basic type of coverage that's right in its acronymic name?
Answer: Auto
124. Businesses can save money on liability insurance by getting a policy with SIR. No, that’s not a person. What is SIR an acronym for?
Answer: Self-insured retention
125. What is the name for insurance coverage that allows claims that are filed after the expiration or cancellation of the policy, provided that the event giving rise to the claim occurred while the policy was still in force?
Answer: Tail Coverage
126. Although it spun off as an independent company in 1993, Allstate was founded in 1931 as part of what major American corporation?
Answer: Sears
127. With a plump name and operations in 54 countries, which insurer is the largest publicly traded casualty and property insurance company in the world?
Answer: Chubb
128. What is the one-word term that Nationwide defines as, "The insurance company's right to pursue legal action in the policyholder’s name against the party legally liable for a loss or damage"?
Answer: Subrogation
129. In 1886, the Endicott & Macomber Agency of Boston wrote the first Employer’s Liability Insurance policy for the Gender and Paeschke Manufacturing Company. In what Midwestern "M" city was the Gender and Paeschke Manufacturing Company located?
Answer: Milwaukee
130. Though arguably just a publicity stunt, the actress America Ferrera insured her smile (including her teeth and gums) via her sponsor for more than $10 million. What "A" brand was her unsurprising dental sponsor?
Answer: Aquafresh
131. Which insurance company founded over 100 years ago by Cornelius Vander Starr offers general liability policies as well as professional policies in specific industries? (Hint: When it was formed, Vander Starr was an American living and working in China, so he called the company American Asiatic Underwriters.)
Answer: AIG
132. Abbreviated MCA, what 1980 act requires trucks to carry minimum insurance coverage to pay liability and environmental restoration claims resulting from accidents?
Answer: Motor Carrier Act
133. What two word term is used for a phase of the insurance market cycle during which time coverage may be more costly, terms may be more restrictive, and policy conditions and requirements more stringent?
Answer: Hard Market
134. What four-letter term refers to a quality inherent in goods or their packing which produces deterioration or loss or damage to the goods without the assistance of another party and by its own action? It may have nothing to do with gambling, smoking, or other bad habits.
Answer: Vice
135. What kind of liability insurance might you want to get for your business in the event that an employee or customer gets hurt while they’re on your property?
Answer: Premises
136. What insurance company was created by Leo and Lillian Goodman in 1936, aimed at providing insurance to federal employees and some classes of military officers?
Answer: GEICO
137. Also the name of a major US insurance company, what sort of "F" insurance guarantee covers loss sustained through fraudulent or dishonest acts committed by employees?
Answer: Fidelity guarantee
138. What’s the protective name of Berkshire Hathaway’s general liability insurance for specific industries, with aggregate limits up to $6 million and premium discounts for businesses?
Answer: Guard
139. Liability insurance written after the event creating liability has happened is called what? Although uncommon these policies can be written when the costs arising from the event are uncertain.
Answer: Backdated
140. An insurance company that is a wholly-owned subsidiary company created to only provide insurance to its parent company and its affiliates is known by what "c" word?
Answer: Captive
141. What legal term is a legal wrong arising from a duty owed to people generally, rather than specifically as by contract?
Answer: Tort
142. Also the name of a citrus soda, what S-word company offers a cloud-based platform for creating liability insurance products?
Answer: Slice
143. What legal principle states that for damages to be awarded, it must be clear that the harm a plaintiff experienced was indeed caused by the defendant?
Answer: Proximate cause
144. Insurance policies that consist of a single document that includes all of the agreements between the insurer and the insured are said to be what?
Answer: Self-contained
145. What is the name for a coverage endorsement that protects employers from the cost of defending claims that a non-exempt employee (i.e., eligible to receive overtime) was not paid the overtime they were due?
Answer: Wage and Hour Insurance Coverage Endorsement
146. Farm Bureau Mutual Insurance was in 12 states and D.C. in 1955, when they changed their name to what more aspirational one that the company still goes by?
Answer: Nationwide
147. “Straight” or “ordinary” refers to which kind of life insurance that covers you for as long as you live?
Answer: Whole
148. The large insurance and financial services company Northwestern Mutual is not headquartered in the Northwestern part of the United States nor in the same state as Northwestern University. In which state is this 1857-founded company headquartered? The company's most recent major FinTech acquisition was the financial planning app LearnVest for over $200 million in 2015.
Answer: Wisconsin
149. What “H” insurance company, an Anglo-Bermudan provider of liability insurance founded in 1901, has a red fleur-de-lis as its logo?
Answer: Hiscox
150. They probably will have their own general liability policy, but which additional endorsement can you get to protect the people who sell and distribute your product?
Answer: Vendors
151. USAA provides insurance and banking services to members of the military, veterans, and their families. What does USAA stand for?
Answer: United Services Automobile Association
152. Jolyon Wagg is an annoying insurance salesman in what Belgian comic strip that was adapted into a 2011 animated film?
Answer: The Adventures of Tintin
153. Which American insurance carrier based in New Jersey with a Naval name has been providing professional liability insurance for especially high-risk businesses since 1974?
Answer: Admiral Insurance Group
154. In economics, what is the two-word term for a situation where an entity (a person, for example, or a corporation) has an incentive to act in risky ways because they will not bear the full costs of that risk? This term can be found as far back as the 17th century and was widely used by British insurance companies by the late 19th century.
Answer: Moral hazard
155. "Insurance coverage for transportation firms that must carry a customer’s goods, as long as they’re willing to pay for it," is the definition of what Carrier Liability?
Answer: Common
156. What Latin phrase meaning "by favor" is used for a payment made by an insurer to a policyholder when there is no legal obligation to do so?
Answer: Ex gratia
157. What G-word is the difference between the cost of acquiring the entity and the reporting entity's share of the book value of the acquired entity?
Answer: Goodwill
158. The period in which an insurance customer must incur medical expenses equal to the deductible in order to establish a benefit period is what kind of “A” word?
Answer: Accumulation Period
159. What two-word term is given to the temporary contracts to protect the insured while the procedures for the preparation and issuing of the insurance policy are progressing?
Answer: Cover Note
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