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CPCU 552 Chapter 8: Professional Liability questions and answers graded A+ 20254/2025
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CPCU 552 Chapter 8: Professional Liability questions and answers graded A+ 20254/2025
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CPCU 552 Chapter 8: ProfessionalLiability
What are the three legal foundations of Professional Liability? - ANS1. Breach of Contract -
plaintiff indicates the expert did not perform the services for which he was employed
2. Tort action - plaintiff shows the professional failed to render service that met the standard
predicted
3. Statutes and Regulations - plaintiff suggests that the professional violated a statute or
regulation
What are four forms of damages recoverable below breach of settlement? - ANS1.
Compensatory damages - indemnify injured party for monetary loss sustained due to breach of
settlement
2. Consequential damages - indemnify the injured celebration for losses related to civil wrong
3. Liquidated damages - designated quantity named in contract, to be recovered due to breach
4. Nominal damages - small amount (regularly $1) provided when a breach of contract occurs
however does not product compensable damage
Why do Professional Liability trials regularly want expert witness testimony? - ANSBecause
jurors are not professionals in defendants area, and need help to determine if a professional
used the specified degree of skill or care.
Does the CGL offer expert liability? - ANSNo, insurers robotically advocate their CGL
regulations to specially exclude expert legal responsibility losses.
What are the six common characteristics of PL regulations? - ANS1. Covered acts and
outcomes - professional services related to occupation: can be as limited as most effective
negligent acts/e&o, or as broad as all wrongful acts
2. Persons and Organizations Insured - maximum cover insured and proprietors, administrators,
officials, companions, and stockholders.
3. Defense insurance - most pay defense expenses, some pay similarly to limits, a few have it
protected in limits
four. Claims-made provisions - maximum include car 1-three yr prolonged reporting
5. Coverage territory - maximum cowl acts devoted everywhere, if introduced to in shape in US
or Canada
6. Exclusions - most exclude intentional harm, EL, WC, and pollution
What are the 7 felony foundations of a Healthcare Professional's Professional Liability
exposures? - ANS1. Duties of healthcare providers - thorough examination, appropriate
diagnoses, observe-up care, prescribe suitable meds
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