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CIC COMMERCIAL CASUALTY INSTITUTE EXAM NEWEST ACTUAL EXAM AND PRACTICE EXAM COMPLETE 220 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ $17.99
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CIC COMMERCIAL CASUALTY INSTITUTE EXAM NEWEST ACTUAL EXAM AND PRACTICE EXAM COMPLETE 220 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+
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CIC COMMERCIAL CASUALTY INSTITUTE EXAM NEWEST ACTUAL EXAM AND PRACTICE EXAM COMPLETE 220 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+

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  • September 12, 2024
  • 32
  • 2024/2025
  • Exam (elaborations)
  • Unknown

Subjects

  • cic commercial casualty institute exam newest actu
  • cic commercial casualty institute exam newest ac
  • cic commercial casualty institute exam newest actu

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  • CIC COMMERCIAL CASUALTY INSTITUTE
  • CIC COMMERCIAL CASUALTY INSTITUTE

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CIC COMMERCIAL CASUALTY INSTITUTE EXAM
NEWEST ACTUAL EXAM AND PRACTICE EXAM
COMPLETE 220 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+


What are the two promises the insurer makes? - ✔✔ANSW✔✔..1. Indemnity
2.Defense

A Commercial General Liability Policy may be written as a - ✔✔ANSW✔✔..1. Monoline
Policy
2. Multi-Line Policy

6 different forms of business - ✔✔ANSW✔✔..1. Individual
2. Partnership
3. Joint Venture
4. Trust
5. Limited Liability Company
6. Organization, including, but not limited to corporations

The 5 sections to a CGL Form - ✔✔ANSW✔✔..Section I - Coverages
Coverage A - Bodily Injury and Property Damage
Coverage B - Personal and Advertising Injury
Coverage C - Medical Payments
Section II - Who is an Insured?
Section III - Limits of Insurance
Section IV - CGL Conditions
Section V - Definitions

Coverage C is more for - ✔✔ANSW✔✔..On the premises and around the premises

Operations- away from the premises

Premises Liability - ✔✔ANSW✔✔..owners, landlords, and tenants and arises out of the
ownership, maintenance, or use of the insured's premises

Business Operations Liability - ✔✔ANSW✔✔..Activates involved in the operation of an
organization including service repair activities usually done on the premises of others,
while the activity is being conducted

,STILL IN THE HANDS OF THE INSUREDS

Products Liability - ✔✔ANSW✔✔..Arises out of the sale, distribution or manufacture of
the named insured's product

Coverage begins when the product has LEFT THE NAMED INSURED'S PREMISES
and is no longer in the named insured's possessions

Products - Completed Operations Hazard includes - ✔✔ANSW✔✔..all BI and PD
occurring away from premises you own or rent and arising out of "your product" or "your
work" except:

1. Products that are still in your physical possession
2. Work that has not yet been completed or abandoned.

In Products - Completed Operations Hazard "your work" will be deemed completed at
the earliest of the following times: - ✔✔ANSW✔✔..1. When all of the work to be done at
the job site has been completed
2. When all of the work to be done at the job site has been completed if your contract
calls for work at more than one job site
3. When that part of the work done at a job site has been put to its intended use by any
person or organization other than another contractor or subcontractor working on the
same project

"Your Product" means - ✔✔ANSW✔✔..any goods or products other than real property,
manufactyured, sold, handled, distributed or disposed of by: you, others trading under
your name, or a person or organization whose business or assets you have acquired

Your product also includes - ✔✔ANSW✔✔..Containers (other than vehicles), materials,
parts or equipment furnished in connection with such goods or products Including:

-Warranties or representations made at any time with respect to the fitness, quality,
durability, performance or use of "Your Product"
- The providing of or failure to provide warning or instructions
- Does not include vending machines or other property rented to or located for the use
of others but not sold

"Your Work" means - ✔✔ANSW✔✔..1. Work or operations performed by you or on your
behalf
2. Materials, parts or equipment furnished in connection with such work or operations
including:

-Warranties or representations made at any time with respect to the fitness, quality,
durability, performance or use of "Your Work"
- The providing of or failure to provide warning or instructions

,Completed Operation Liability - ✔✔ANSW✔✔..Arises from activities involved in the
operation of an organization including service and repair activities usually done on the
premises of others, after the activity has been concluded

Coverage begins WHEN THE BUSINESS OPERATION IS COMPLETED - NO
LONGER IN INSUREDS HANDS

Work that may need service, maintenance, correction, repair or replacement, but which
is otherwise complete, will be treated as complete

ex. Food consumption on the named insured's premises

Liability Exposures under Coverage A - ✔✔ANSW✔✔..-Premises
-Operations
-Products
-Completed Operations
-Contractual
-Contingent

Contractual Liability - ✔✔ANSW✔✔..Arises from one party assuming responsibility of
another party

-Arises from an insured contract or other contractual obligations
ex. tenant - Landlord, Subcontractor - General Contractor

Coverage is provided for:

1. Liability in absence of the contract
2.Liability assumed in a contract or agreement that is an insured contract and only with
respect to injury or damage that occurs after the contract is executed

What kind of contract for a lease of premises is not considered an insured contract? -
✔✔ANSW✔✔..the portion of the contract for a lease of premises that indemnifies any
person or organization for damage by fire to premises while rented to you or temporarily
occupied by you with permission of the owner

Endorsements that modify the insureds contract defintion - ✔✔ANSW✔✔..Amendment
of insured contract definition - eliminates coverage for the sole negligence of the
indemnitee under paragraph f

Contractual Liability Limitation - Eliminates the defintion of insured contract

Contractual Liability - Railroads - Gives back coverage for construction or demolition
operations on or within 50 feet of a railroad

, What is an exception in any easement or license agreement? -
✔✔ANSW✔✔..connection with construction or demolition operation on or within 50 feet
of a railroad

Hold Harmless agreement or Indemnity agreement - ✔✔ANSW✔✔..on party (the
indemnitor) promises to reimburse, and in some cases defend the other party (the
indemnitee) against claims or suits brought against the indemnitee by a third party

The purpose of a hold harmless agreement - ✔✔ANSW✔✔..to transfer the risk of
financial loss from one party (the indemnitee) to another party (the indemnitor)

Indemnitor - ✔✔ANSW✔✔..the person or organization that holds another (the
indemnitee) harmless in a contract

ex. sub contractor - they would respond to the suit bc they held the general contractor
harmless

Indemnitee - ✔✔ANSW✔✔..The person or organization that is held harmless in a
contract (the indemnitor)

ex. the general contractor - they are not held harmless

Contingent Liability - ✔✔ANSW✔✔..Arises out of work performed for the named insured
by someone else

ex. can protect a named insured from negligent acts of an independent contractor

Personal Injury Liability - ✔✔ANSW✔✔..Liability arising from intentional torts, such as
libel, slander, wrongful eviction

-coverage applies to named offenses as defined in the policy

Advertising Liability - ✔✔ANSW✔✔..Liability caused by harm from such things as
misappropriation of advertising ideas, style of doing business or infringement of
copyright

-Coverage applies to named offenses committed in the course of advertising the named
insured's goods, products, or services

First Paragraph on the insurance contract - ✔✔ANSW✔✔..States that various
provisions restrict coverage

Second Paragraph on the insurance contract - ✔✔ANSW✔✔..Defines how the named
insured and insurer will be identified on the CGL Form

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