Identify three methods that can be used to gain access to a Protected Enclosure? Provide an example for each. - ANSWERMechanical: Drills
Thermal: Torches
Explosion: Dynamite
What is the purpose of Perimeter Protection? - ANSWERTo prevent access to the premises when the business is closed
De...
CAIB 2 Immersion
Questions &
Answers(GRADED A)
Identify three methods that can be used to gain access to a Protected Enclosure? Provide an example
for each. - ANSWERMechanical: Drills
Thermal: Torches
Explosion: Dynamite
What is the purpose of Perimeter Protection? - ANSWERTo prevent access to the premises when the
business is closed
Define Partial Protection and provide two weaknesses to Partial Protection? - ANSWERWhen only
openings to the building are protected, such as windows and doors.
Forced entry through walls or ceilings will go undetected and stay behind thieves will go unnoticed
until they leave.
Common Clause: Indemnity Agreement - ANSWERPolicy pays least of:
ACV at the time of loss,
Insured's interest,
Policy limits
Common Clause: Deductible - ANSWERPer occurrence
One deductible per location
Common Clause: Co-Insurance - ANSWERApplies separately to each item.
Waived if loss is below 2% of insurance limit or $5,000.
,Common Clause: Property of Others - ANSWERInsurer's option to either pay insured or owner of the
property.
Common Clause: Locked Vehicle Warranty *BROAD FORM ONLY* - ANSWERProperty in vehicles must
be kept in fully enclosed, locked vehicles.
Must have signs of forced entry.
What perils are covered under Basic Fire policy? - ANSWERFire
Lightning
Explosion of natural, coal or manufactured gas
Excluded PERILS to Basic Fire policy? - ANSWERElectrical devices by artificial currents.
Application of heat (only to the item heat was applied to- ensuing fire covered).
War risks.
Nuclear incident or contamination (ensuing fire would be covered)
Common Clause: Reinstatement - ANSWERLosses do not reduce amount of insurance.
Refunds not impacted by claim in policy period.
Common Clause: Subrogation - ANSWERAfter payment of loss, right of recovery is transferred to
insurer.
Excluded PROPERTY to Basic Fire policy? - ANSWERMoney, bullion & securities.
Automobiles, trailers, watercraft and airplanes (unless held for sale or solely on premises for business
and unregistered).
Vacancy, unoccupancy or disuse beyond 30 days.
By laws.
EXTENSIONS to Basic Fire policy? - ANSWERPROPERTY REMOVED:
Removal off premises after loss to protect property.
, Extends for 7 days or expiry.
Does not increase limit of insurance.
Same terms and conditions of standard policy.
&
DEBRIS REMOVAL:
Clean up insured property after loss.
25% of direct physical loss in coverage.
No coverage for clean up of pollution.
Not considered in co-insurance calculations.
Subject to policy limits.
Exclusion to Broad Form: Furs, Jewellery and Precious Stones - ANSWERExclusion doesn't apply to
first $1,000 of any loss.
Must be direct damage by named perils.
Exclusion to Broad Form: Boilers and Pressue Vessels - ANSWERAny vessel beyond 15lbs per square
inch.
Explosion, rupture, bursting, cracking of any boiler and it's piping/equipment under water/steam
pressure.
Tanks with internal diameter of 24 inches or less (domestic HWT) are fine.
EXCEPT: Manually portable gas cylinders (BBQ tanks)
Encourages insurance to be purchased for at least a certain % of value.
Common Clause: Permission - ANSWERGranted for:
Other insurance,
Alterations or additions,
To carry substances usual to insured business
Common Clause: Breach of Conditions - ANSWERBreach must have impacted loss to deny coverage.
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