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AINS 103 - All Chapters QUESTIONS & ANSWERS
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AINS 103 - All Chapters QUESTIONS & ANSWERS
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AINS 103 - All Chapters QUESTIONS & ANSWERSOccupational injury - Answers -Generally, an employee is covered for any work-related
injury sustained while at a place of employment or while traveling for the employer.
Injuries occurring while traveling to or from work are typically not covered.
Commercial Property Conditions - Answers -Lists the rules to which the insured and
insurer must adhere for coverage to apply
Kendall Incorporated (KI) insures its building under a commercial property policy that
includes the Causes of Loss—Broad Form. Explain whether each of the following
causes of loss that occurred during the policy period would be covered under KI's
policy: - Answers -- A windstorm damaged KI's roof. = YES
- A river near KI's property overflowed its banks. The rising water seeped into KI's
building and damaged the hardwood floors. = NO
- Vandals broke several windows in KI's building. = YES
- An earthquake damaged KI's building. = NO
BPP Coverage Extensions - Answers --BPP coverage extensions protect additional
types of property, such as newly acquired or constructed property, various types of
storage units and trailers, and outdoor property, among others.
-The extensions apply only if at least 80 percent coinsurance or a value reporting period
symbol is shown in the declarations.
-80 percent coinsurance means that the insured has agreed to purchase coverage that
is at least 80 percent of the insured property's value.
-Although subject to special limits, the amounts payable under coverage extensions are
in addition to the overall limits of insurance stated in the declarations.
Sadie owns a call center business and insures her building and personal property under
a BPP. Because communications technology changes so rapidly, she leases all of her
phone equipment. According to the lease agreement, she is responsible for the
replacement cost of the leased phone equipment in the event it is damaged. - Answers -
Replacement Cost
Click on every icon that represents an extra expense that would be covered under the
Business Income (and Extra Expense) Coverage Form, but not under the Business
Income (Without Extra Expense): - Answers -- Costs to move to a temporary location
- Increased rent at the temporary location
- rental of substitute equipment
- Cost of substitute services
, Occupational disease - Answers -Generally, an employee is covered for a disease
thought to be caused by the work or the work environment. Most occupational diseases
become evident during employment or soon after an employee's exposure to harmful
conditions. But many states provide extended periods of time for discovering slowly
developing diseases.
Temporary partial disability - Answers -Disability caused by a work-related injury or
disease that temporarily limits the extent to which an employee can perform specific job
duties for a period of time (such as 30 or 60 days). After that period, the worker is
expected to be able to resume all job duties.
Temporary total disability - Answers -Disability caused by a work-related injury or
disease that temporarily renders an injured employee unable to perform any job duties
for a period of time (such as 30 or 60 days). After that period, the worker is expected to
be able to resume all job duties.
Permanent partial disability - Answers -Disability caused by a work-related injury or
disease that impairs the injured employee's earning capacity for life. The employee is
able to work at reduced efficiency.
Permanent total disability - Answers -Disability caused by a work-related injury or
disease that renders an injured employee unable to ever return to gainful employment.
Industrial and private employers - Answers -Workers compensation statutes apply to
virtually all industrial workers and most other kinds of private employers.
Employees
Employees - Answers -Entitlement to benefits depends on whether a person qualifies as
an employee (a person hired to perform services for another under the direction and
control of the employer). Employees, but not necessarily independent contractors, are
entitled to workers compensation benefits.
Employees of independent contractors - Answers -An independent contractor might
employ others. The independent contractor, like other employers, must then provide
workers compensation benefits to its employees.
Leased employees - Answers -Leased employees are provided by a leasing contractor
(sometimes called a professional employer organization, or PEO) to a client company.
The PEO is typically responsible for providing leased employees with workers
compensation coverage.
Temporary employees - Answers -Temporary employees are hired for short-term
assignments to cope with peak loads or to replace an employee who is sick or on
vacation. The organization supplying the temporary employees provides them with
workers compensation benefits.
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