Exam (elaborations)
NJ Casualty questions and answers already graded A+ 2024/2025
- Course
- Institution
NJ Casualty questions and answers already graded A+ 2024/2025
[Show more]
Content preview
NJ CasualtyClaims-made - ANSCommercial standard legal responsibility comes in 2 forms: prevalence and
______
Premises and Operations risk - ANSincludes the ownership, upkeep, or use of the insured's
premises and all enterprise operations, excluding the exposures protected in the goods and
finished operations chance
Products and completed operations - ANSincludes injuries or damage that occur after the
insured has completed its process and left the website, or relinquished manipulate of a product
it synthetic or offered
simplest within the standard legal responsibility policy with endorsement - ANSindependant
contractors are blanketed where?
Occurrence - ANSpays for bodily damage and belongings damage that happens for the duration
of the coverage duration, despite the fact that the loss is not found/mentioned until months later
SIR (self-insured retention) - ANSA deductible that need to be paid by way of an insured with a
purpose to access the umbrella's policy finances while the insured's underlying coverage cannot
cowl the loss
Coverage trigger
*claims-made cause: reposnse to when the claim is first made
*occurrence trigger: whilst the event came about (may be months down the street) - ANSwhat
makes a policy reply to a claim
Basic prolonged reporting duration - ANSinsured may be notified approximately a ability claims
60 days after the coverage expired, coverage will observe inside 5 years from the date of the
incident.
Supplemental extended reporting period - ANSunlimited length for reporting claims going on
after the retroactive date, however before the expiration of coverage
Retroactive date - ANSno claims/losses prior to the powerful date of the coverage may be
blanketed
Medical bills - ANSConsidered exact will insurance because bills might be paid with out regard
to the fault or negligence of the insured.
Provides necessary fees to the 0.33 party regardless of insured at fault.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Ashley96. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
73091 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now