Exam (elaborations)
Commercial Casualty - CIC
Commercial Casualty - CIC
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Commercial Casualty - CIC"You" is - ANS-the person or organization named on the declarations and those who
qualify as a named insured
also any other persons or organizations not listed on the declarations that may qualify
as a named insured
"Your Product" means - ANS-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 Work" means - ANS-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
$1,000 for all electronic equipment that reproduces, receives or transmits audio, visual
or data signals if: - ANS-1. Permanently installed in the housing unit not normally used
by the manufacturer for such equipment
2. Removable from the permanently installed housing unit
3. An integral part of such equipment
6 different forms of business - ANS-1. Individual
2. Partnership
3. Joint Venture
4. Trust
5. Limited Liability Company
6. Organization, including, but not limited to corporations
6 parts to WC policy - ANS-1. WC Insurance
2. Employers Liability insurance
3. Other states insurance
4. Your duties if injury occurs
,5. Premium
6. Conditions
A Commercial General Liability Policy may be written as a - ANS-1. Monoline Policy
2. Multi-Line Policy
A person or organization must qualify as an insured in order to be provided insurance
protection. They must be: - ANS-1. Named insureds (those listed on Declarations or
Schedule)
2. Automatic Insureds
3. Those who qualify as named insured
4. Non-automatic insureds - those added by endorsement
Adding other persons or organizations as Additional Insureds may create problems for
the additional insured: - ANS-1. Loss of Defense Control-named insured has the right to
defend, investigate, and settle
2. Increased probability of disputes over coverage
3. Limited coverage under current forms
4. Dependence on someone else's insurance
Adding other persons or organizations as Additional Insureds may create problems for
the named insured: - ANS-1. Diminution of policy limits - All insureds share the same
limits
2. Unintended coverage provided - older ISO forms may provide unintended coverage
3. Defense conflicts - the insurer has the responsibility to defend both parties even tho
they would be on the same policy
4. Compliance Problems
Additional Insured - Designated Person or Organization (CG 20 26 04 13) -
ANS-Purpose - Used to designate a specific person or organization for ongoing
operations or in relationship to premises
Suitable for a landlord - tenant relationship when a written lease does not exist
Additional Insured - Lessor of Leased Equipment (CG 20 28 04 13) - ANS-Purpose -
Used when the lessor of leased equipment requires they be added to the named
insured's CGL Policy
Does not provide coverage for any occurrence that take place after the lease expires
,Additional Insured - Managers Or Lessors Of Premises (CG 20 11 04 13) -
ANS-Purpose - Used when real estate managers or owners of premises require they be
added to a tenant's (named insured's) CGL Policy
- Not suitable if no written lease is in place
Provides liability coverage for Additional Insured Arising out of:
1. The ownership, maintenance, or use of that part of the premises leased to the named
insured
2. Shown in the endorsement schedule
Additional Insured - Owners, Lessees or Contractors - Automatic Status for Other
Parties when required in Written Construction Agreement (CG 20 38 04 13) -
ANS-Purpose - Used when owners, lessees, or contractors want to be added as an
Additional Insured for ongoing operations AND to add "upstream parties" as Additional
Insureds as required by contract
DOES require a contract, BUT does NOT require the other person/organization be a
party to the contract
Additional Insured - Owners, Lessees or Contractors - Completed Operations (CG 20
37 04 13) - ANS-Purpose - Used when owners, lessees, and contractors require they be
added to a named insured's CGL Policy for completed operations
Provides Liability coverage for bodily injury or property damage for the additional
insured:
- Caused in whole or in part by the named insured's work
- At the location designated in the endorsement schedule
- Performed for the Additional Insured
- Included in the products-completed operation hazard
Additional Insured - Owners, Lessees or Contractors - Scheduled Person or
Organization (CG 20 10 04 13) - ANS-Purpose - Used when owners, lessees, and
contractors require they be added to the named insured's CGL Policy for ongoing
operations
Modifies the Who is An Insured provision to include the person or organization shown in
the schedule as an Additional Insured
Provides liability coverage for bodily injury, property damage, or personal and
advertising for the Additional Insured
, Will pay the LESSER of the amount required by the contract agreement or available
applicable limits of insurance
DOES NOT PROVIDE COVERAGE FOR COMPLETED OPERATIONS
Additional Insured - Owners, Lessees, or contractors - Automatic Status when required
in construction agreement with you (CG 20 33 04 13) - ANS-Purpose - Used when
owners, lessees, or contractors want to be added as an Additional Insured for ongoing
operations
-Requires a written contract
- Only gives automatic insured status to the person or organization who/which is a party
to the contract with the named insured
-Only applies to ongoing operations
No Coverage for:
-Sole negligence of the Additional Insured
-Completed Operations
-Liability arising out of professional services
Additional Insured status may: - ANS-- Protect the Additional Insured from Subrogation
- May provide higher total limits for the Additional Insured
- May reduce direct insurance costs for the Additional Insured
Advertisement means - ANS-A notice that is broadcast or published to the general
public or specific market segments about your goods, products or services for the
purpose of attracting customers or supporters. For the purposes of this definition:
1. Notices that are published include material placed on the internet or on similar
electronic means of communication
2. Regarding websites, only that part of a website that is about your goods, products or
services for the purpose of attracting customers or supporters is considered and
advertisement
Advertising Liability - ANS-Liability caused by harm from such things as
misappropriation of advertising ideas, style of doing business or infringement of
copyright
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