Exam (elaborations)
FLORIDA INSURANCE CUSTOMER SERVICE 440 CSR
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FLORIDA INSURANCE CUSTOMER SERVICE 440 CSR
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FLORIDA INSURANCE CUSTOMER SERVICE 440 CSRA business owner who is required to secure Workers' Compensation but does not is
committing: - Answers-A felony
immy is sued by a job applicant for discriminatory hiring practices. The coverage he
needs is: - Answers-Employment Practices Liability
Which of the following is an example of "personal injury," as defined by a Commercial
General Liability policy? - Answers-Libel or slander
Susan has two insurance quotes for her client. Quote 1: CGL with a $2,000,000 limit per
occurrence. Quote 2 (package policy): CGL with a $1,000,000 per occurrence limit.
Commercial Umbrella Policy with a $1,000,000 limit from the same carrier.Assuming the
CGL policies have identical coverage, what can we say about these quotes? - Answers-
The umbrella policy in Quote 2 may broaden the coverage or coverage territory.
An insurance agency in Florida is required by law to have Workers Compensation
coverage: - Answers-If they have 4 or more employees.
Which CGL coverage will pay a claim even if the insured is not liable for an injury, and is
not sued? - Answers-Coverage C - Medical Payments
Insured Mr. Jones has CGL. Due to Mr. Jones' negligence a fire occurs in front of Mr.
West's grocery store without damaging Mr. West's grocery store. Mr. West sues for loss
of business. Covered? - Answers-Yes, the indirect loss is covered under property
damage liability
Frank sabotages the burglar alarm at the office where he works, and breaks in after
hours. His act best illustrates which property insurance concept? - Answers-Moral
hazard.
Employer has Workers Comp coverage. If an employee is hurt at the workplace due to
an intentional act or willful negligence of a manager, a coverage that the employer might
need is - Answers-Employer's Liability.
Linus sends an email to his client, Francine. In the email, he tells Francine that the CGL
policy she purchased will cover injuries to employees. This is an example of: - Answers-
A professional error for which Linus could be held liable
Wanda has a freezer full of seafood for sale. Which policy would cover the breakdown
of the freezer, and consequential spoilage of the seafood? - Answers-Boiler and
Machinery
, The "symbols" on a Business Auto policy tell you: - Answers-Whether all autos, or just
owned autos or listed autos are covered.
Your client, Jolena, tells you she is an engineer whose job is to make sure that buildings
will not collapse. Which of the following coverages specifically applies to Jolena's
activities as an engineer? - Answers-Professional Errors and Omissions.
Joe buys an Occurrence form CGL policy in 2016. For the next three years, he buys
Claims Made CGL policies. In 2019, while he is insured under a Claims Made policy, he
is notified of a lawsuit for an injury that occurred in 2016, while he had the Occurrence
policy. Which policy, if any, will respond? - Answers-The Occurrence policy from 2016
responds
A mortgage broker's office in Florida is required by law to have Workers Compensation
coverage: - Answers-If they have 4 or more employees.
Belinda's client is a practicing CPA who also serves on the board of a private capital
firm. He desires coverage for the following scenarios: (1) his client is injured in his
office, (2) he is sued by a client for making a mistake on a tax return, and (3) he is sued
by a shareholder for negligent leadership as a director of the private capital firm. Which
policies correctly cover these situations? - Answers-CGL covers scenario 1, E&O
covers scenario 2, and D&O covers scenario 3.
What are the "3 Cs" of bond underwriting? - Answers-Character, capital, and capability
Wanda has a claims made CGL policy. The retroactive date is Jan 1, 1994. She has
had claims made policies ever since 1994. Today she finds out about an accident that
happened years ago, while one of the old claims made policies was in force. Which
policy will respond to the claim? - Answers-The most recent Claims Made policy
responds.
A CGL policy will cover a corporation in which of the following incidents: - Answers-Job
applicant slips and falls.
Jenny has CGL insurance for her medical office. She makes 3 claims on the policy:
A patient trips on the doorstep and breaks a tooth.
A patient is accidentally injected with the wrong drug.
Jenny's receptionist accidentally spills coffee on a patient's laptop.
Which claims will be covered by Jenny's CGL policy? - Answers-Claim #1 and claim #3
Peggy's office building is insured under a Commercial Property policy with building limit
$400,000. The structure is destroyed completely by a fire. At the time of loss, it is
discovered that the building had depreciated to $375,000. If the insurer pays a cash
settlement rather than replacing the building, Peggy's policy will pay: - Answers-
$400,000
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