CAIB 2 PACKAGE DEAL

Scheduled Coverage - ️️refers to policy on which coverage is provided only on that property which is specifically identified or scheduled All Property - ️️refers to policy used to insure building, equipment and stock under a single limit of Insurance Tenants Improvement - ️️buildin...

The three amounts to be considered when calculating the amount of payment as outlined in the Indemnity Agreement are: - ️️1) the value of the lost or damaged property (ACV) 2) the interest of the insured in the property (ex. financial interest, home, mortgage) 3) the amount of insurance sp...

The three amounts to be considered when calculating the amount of payment as outlined in the Indemnity Agreement are: - ️️1) the value of the lost or damaged property (ACV) 2) the interest of the insured in the property (ex. financial interest, home, mortgage) 3) the amount of insurance sp...

Only the property specifically listed or scheduled on the policy is insured. - ️️Scheduled coverage. Building, Stock and Equipment are insured under a single limit of insurance. - ️️Property of Every Description (POED) coverage. All property owned by the insured is covered or "blanket...

Identify the company which assumes the greatest portion of an account? (Ch. 1) - ️️Lead company What is "reinsurance" (Ch. 1) - ️️Reinsurance is when an insurance company "cedes" part of the risk to a reinsurer. What are three considerations used when determining amounts of indemni...

1) Failure or malfunction of mechanical or electrical equipment; 2) Arson; 3) Misuse of ignition source. - ️️The three leading causes of fire losses in Canada. Policy period takes effect at 12:01 a.m. standard time at the address of the Named Insured as stated on the policy. - ️️The pol...