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CIC COMMERCIAL CASUALTY INSTITUTE EXAM LATEST 2024 WITH ACTUAL QUESTIONS AND CORRECT VERIFIED ANSWERS/ALREADY GRADED A+ 100% GUARANTEED TO PASS CONCEPTS(ALL WHAT YOU NEED) LATEST EDITION 2024 $23.99
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CIC COMMERCIAL CASUALTY INSTITUTE EXAM LATEST 2024 WITH ACTUAL QUESTIONS AND CORRECT VERIFIED ANSWERS/ALREADY GRADED A+ 100% GUARANTEED TO PASS CONCEPTS(ALL WHAT YOU NEED) LATEST EDITION 2024
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Course
CIC COMMERCIAL CASUALTY INSTITUTE
Institution
CIC COMMERCIAL CASUALTY INSTITUTE
CIC COMMERCIAL CASUALTY INSTITUTE EXAM LATEST 2024
WITH ACTUAL QUESTIONS AND CORRECT VERIFIED
ANSWERS/ALREADY GRADED A+ 100% GUARANTEED TO
PASS CONCEPTS(ALL WHAT YOU NEED) LATEST EDITION 2024
CIC COMMERCIAL CASUALTY INSTITUTE EXAM LATEST 2024
WITH ACTUAL QUESTIONS AND CORRECT VERIFIED
ANSWERS/ALREADY GRADED A+ 100% GUARANTEED TO
PASS CONCEPTS(ALL WHAT YOU NEED) LATEST EDITION 2024
Identify the Specific Rights & Responsibilities of the First Named Insured
(Objective #1) - ANSWER-1- Cancel Policy
2- Receive Notice of Cancellation
3- Make Changes to Policy (with Insurer Consent)
4- Payment of Premiums
5- Payee for Returned Premium
Compare and Contrast the Occurrence Form with the Claims Made Form, as to
what activates coverage (Learning Objective #2) - ANSWER-Occurrence Form:
- BI/PD must occur during the policy period
- P/Adv committed during policy period
- The policy in force when the injury or damage takes place is the one that
responds
Claims Made Form:
- BI/PD must occur on or after the Retro Date shown in Declarations
- P/Adv must have been committed on or after the Retro Date
,- AND, Claim must be made during the policy period or Extended Reporting
Period
- NO COVERAGE if before the Retro Date
Identify various Liability Exposures (8 total) in the CGL Coverage Form ( Part of
Learning Objective #3) - ANSWER-1- Premises Liability
2- Business Operations Liability
3- Products Liability
4- Completed Operations Liability
5- Contractual Liability
6- Contingent Liability
7- Personal Injury Liability
8- Advertising Liability
Premises Liability - ANSWER-Applies to:
- Owners, Landlords, Tenants
- Arises out of the ownership, maintenance or use of the insured's premises
ONLY applies to designated
- Premises
- Project
- Operation
Business Operations Liability - ANSWER-Arises from activities involved in the
operation of an organization, while the activity is being conducted
,Products Liability - ANSWER-- Arises out of the sale, distribution or
manufacture of the product
- Coverage begins when the product has left the NI's premises and is no longer
in the NI's possession
Completed Operations Liability - ANSWER--Arises from activities involved in the
operation of an organization, after the activity has been concluded
- When the business operation is completed
- Includes: work that may need service, maintenance, correction, repair or
replacement, but which is otherwise complete, will be treated as completed
Contractual Liability - ANSWER-- Arises from one party assuming responsibility
of another party
- Liability that arises from an "Insured Contract"
- Ex: Lease Agreements, Construction Contracts, etc...
Contingent Liability - ANSWER-- Arises out of work performed for the NI by
someone else
-Ex: Can protect a NI from negligent acts of an independent contractor
Personal Injury Liability - ANSWER-- Arising from intentional torts (libel, slander,
wrongful eviction)
, - Applies to named offenses as defined by the CGL
Advertising Liability - ANSWER-- Liability caused by harm such as
misappropriation of Advertising Ideas, Style of Doing Business or Infringement
of Copyright
- Applies to Named Offenses, in the course of advertising the NI's goods,
products or services
Who qualifies as an Insured under the CGL when the NI is an Individual? -
ANSWER-The Individual and Spouse
Who qualifies as an Insured under the CGL when the NI is a Partnership of Joint
Venture - ANSWER-Members*
Partners
Spouses
*only with respect to conduct of the business of NI
Who qualifies as an Insured under the CGL when the NI is a LLC? - ANSWER-
Members
Managers
Who qualifies as an Insured under the CGL when the NI is a Corporation,
Municipality or Other? - ANSWER-Executive Officers & Directors
Stockholders (financial interest protected)
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