Commercial Casualty – CIC Exam with Verified Answers
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Commercial Casualty – CIC E
Institution
Commercial Casualty – CIC E
Commercial Casualty – CIC Exam with Verified Answers
1. What are the two
promises the in-
surer makes?
2. A Commercial
General Liability
Policy may be
written as a
3. 6 different forms
of business
4. The 5 sections to
a CGL Form
5. Coverage C is
more for
6. Premises Liabili-
ty
7....
Commercial Casualty – CIC Exam with Verified Answers
1. What are the two 1. Indemnity
promises the in- 2.Defense
surer makes?
2. A Commercial 1. Monoline Policy
General Liability 2. Multi-Line Policy
Policy may be
written as a
3. 6 different forms 1. Individual
of business 2. Partnership
3. Joint Venture
4. Trust
5. Limited Liability Company
6. Organization, including, but not limited to corporations
4. The 5 sections to Section I - Coverages
a CGL Form Coverage A - Bodily Injury and Property Damage
Coverage B - Personal and Advertising Injury
Coverage C - Medical Payments
Section II - Who is an Insured?
Section III - Limits of Insurance
Section IV - CGL Conditions
Section V - Definitions
5. Coverage C is On the premises and around the premises
more for
Operations- away from the premises
6. Premises Liabili- owners, landlords, and tenants and arises out of the own-
ty ership, maintenance, or use of the insured's premises
7. Business Opera- Activates involved in the operation of an organization
tions Liability including service repair activities usually done on the
premises of others, while the activity is being conducted
STILL IN THE HANDS OF THE INSUREDS
8. Products Liabili- Arises out of the sale, distribution or manufacture of the
ty named insured's product
, Commercial Casualty – CIC Exam with Verified Answers
Coverage begins when the product has LEFT THE
NAMED INSURED'S PREMISES and is no longer in the
named insured's possessions
9. Products - Com- all BI and PD occurring away from premises you own
pleted Opera- or rent and arising out of "your product" or "your work"
tions Hazard in- except:
cludes
1. Products that are still in your physical possession
2. Work that has not yet been completed or abandoned.
10. In Products - 1. When all of the work to be done at the job site has been
Completed Op- completed
erations Hazard 2. When all of the work to be done at the job site has been
"your work" will completed if your contract calls for work at more than one
be deemed com- job site
pleted at the ear- 3. When that part of the work done at a job site has been
liest of the fol- put to its intended use by any person or organization other
lowing times: than another contractor or subcontractor working on the
same project
11. "Your Product" any goods or products other than real property, manu-
means factyured, 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
12. Your product Containers (other than vehicles), materials, parts or
also includes equipment furnished in connection with such goods or
products Including:
-Warranties or representations made at any time with
respect to the fitness, quality, durability, performance or
use of "Your Product"
- The providing of or failure to provide warning or instruc-
tions
- Does not include vending machines or other property
rented to or located for the use of others but not sold
13.
, "Your Work" 1. Work or operations performed by you or on your behalf
means 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 instruc-
tions
14. Completed Oper- Arises from activities involved in the operation of an or-
ation Liability ganization including service and repair activities usually
done on the premises of others, after the activity has been
concluded
Coverage begins WHEN THE BUSINESS OPERATION
IS COMPLETED - NO LONGER IN INSUREDS HANDS
Work that may need service, maintenance, correction,
repair or replacement, but which is otherwise complete,
will be treated as complete
ex. Food consumption on the named insured's premises
15. Liability Expo- -Premises
sures under Cov- -Operations
erage A -Products
-Completed Operations
-Contractual
-Contingent
16. Contractual Lia- Arises from one party assuming responsibility of another
bility party
-Arises from an insured contract or other contractual
obligations
ex. tenant - Landlord, Subcontractor - General Contractor
Coverage is provided for:
, 1. Liability in absence of the contract
2. Liability assumed in a contract or agreement that is an
insured contract and only with respect to injury or damage
that occurs after the contract is executed
17. What kind of con- the portion of the contract for a lease of premises that
tract for a lease indemnifies any person or organization for damage by fire
of premises is to premises while rented to you or temporarily occupied
not considered by you with permission of the owner
an insured con-
tract?
18. Endorsements Amendment of insured contract definition - eliminates
that modify the coverage for the sole negligence of the indemnitee under
insureds paragraph f
contract
defintion Contractual Liability Limitation - Eliminates the defintion
of insured contract
Contractual Liability - Railroads - Gives back coverage for
construction or demolition operations on or within 50 feet
of a railroad
19. What is an ex- connection with construction or demolition operation on
ception in any or within 50 feet of a railroad
easement or li-
cense agree-
ment?
20. Hold Harmless on party (the indemnitor) promises to reimburse, and
agreement or In- in some cases defend the other party (the indemnitee)
demnity agree- against claims or suits brought against the indemnitee by
ment a third party
21. The purpose of to transfer the risk of financial loss from one party (the
a hold harmless indemnitee) to another party (the indemnitor)
agreement
22. Indemnitor
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