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CIC COMMERCIAL CASUALTY INSTITUTE EXAM
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CIC COMMERCIAL CASUALTY INSTITUTE EXAM
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CIC COMMERCIAL CASUALTY INSTITUTE EXAMWhat are 4 major loss exposures covered by CGL Form?
LO1 - ANSWER 1. Premises Liability (slip and fall due to water on the floor)
2. Operations Liability
(Tree trimmer causes damage to power lines by removing fallen limbs)
3. Product Liability (ladder collapses when being used as intended)
4. Completed Operations
A contractor installs a hot water heater and leaves the home, 2 days later, water
overflows onto the floor causing damage because the hot water heater was
improperly installed.
5. Contractual Liability
(A contractor agrees to assume Liability for the owner of the premises. The owner is
sued due to the operations of the contractor. The contractor will pay for the Liability
exposure of the owner)
6. Contingent Liability ( a GC is held liable for work performed by a sub)
7. Personal Injury Liability - COV B
(A parent calls the Principal incompetent at a school meeting. Due to the comments,
the principal sues for slander)
8. Advertising Injury Liab
COV B (copyright infringement)
What are the 4 Types of Torts?
LO2
NISA - ANSWER 1. Unintentional Tort, usually based on NEGLIGENCE. Duty
owed, duty beached, proximate cause and damages. Example- Car accident.
2. INTENTIONAL Tort, resulting in injury or loss to another person
Libel, slander, wrongful entry or eviction, assault/battery, wrongful detention, false
arrest, copyright infringement
3. STRICT Liability (products Liability)
Consumer must only prove the defect and consequent damages to support a cause
of action against the manufacturer, regardless of any wrong doing on the mfgr's part.
4. ABSOLUTE Liability is something that is inherently dangerous such as a having a
pet boa constrictor who bites a child
, Statutes are rules or laws that create Liability ( WC, auto liab, ny disability etc)
What are two types of damages? - ANSWER 1. Compensatory damages
General - pain and suffering
Special - $$ bills
2. Punitive damages
Punishment, some states cover under insurance, some do not allow them
What are the 3 types of insureds under the CGL coverage form?
LO3 - ANSWER 1. Named insureds on the dec page
2. Automatic insureds (employees, volunteers)
3. Non-automatic insureds, addl insureds added by Endts
Give 3 examples of other automatic insureds
LO3 - ANSWER 1. Spouse of an individual
2. Members, partners and spouses of a partnership or JV
3. Members and managers of an LLC
4. Executive officers of a Corp, and stockholders
5. Trustees of a trust
Other insureds on the CGL Coverage Form are
LO3 - ANSWER 1. Volunteer workers or your employees, other than exec officers.
Includes Leased workers But not temp workers
2. Real Estate Managers
If an EE sues an Exec Officer for EE injury, the exec officer is covered under the GL
policy, not the EL policy. Only the first named insured is covered under the EL
They are NOT Insureds for BI or P & A Injury to a named insured, partner, member,
employee or volunteer worker
Or
for Consequential BI or P & A Injury to family members of an injured employee or
volunteer worker
Who else is an insured - OTHERS
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