CIC Commercial Multi-Line 3 Exam (elaborations) CIC COMMERCIAL PROPERTY EXAM PREP 4 Exam (elaborations) CIC Commercial Property Q&A 5 Exam (elaborations) CIC COMMERCIAL MULTI-LINES 6 Exam (elaborations) CIC: COMMERCIAL PROPERTY 7 Exam (elaborations)

Describe how inland marine insurance started - Answer- -evolved from ocean marine -filled gap in coverage as good transitioned from ocean marine -cover goods in transit over land Does inland marine also apply to instruments of transportation and communication? - Answer- Yes, ex. Bridges, tunnel...

Endorsements used to modify coverage extensions (6) - Answer- 1. newly acquired or constructed property - increased limit 2. higher limits 3. specified bpp temporarily away from premises 4. additional covered property 5. radio or television antennas 6. trees, shrubs, plants Explain repla...

List and explain he specific rights and duties of the first named insured as stated in the common policy declarations - Answer- Cancellation-May cancel in advance with written notice, we may cancel by written notice 10 days for non pay 30 days for other reason. Changes-is authorized to make changes ...

The purpose of the definition of Marine is - Answer- to describe the kinds of risks and coverage's which may be classified or identified under state insurance laws as Marine, Inland Marine, or Transportation Who needs inland marine coverage's? - Answer- Business that have an exposure to propert...

How many causes of Loss are on Basic Form (10 10) - Answer- 11 How many causes of Loss are on the Broad Form (10 20) - Answer- 14 + Additional Coverage for Collapse What specific coverage is only given on special form (10 30) - Answer- Theft When loss occurs on a basic or broad policy, the ...

Identify and describe the three primary purposes of excess liability/umbrella policies (LO1) - Answer- 1. Provide additional limits that are excess over underlying limits of insurance 2. Provide primary coverage when underlying poliy does not respond beacuse its aggregate limits of insruance are ex...