California Commercial Insurance

California Commercial Insurance | Questions with 100% correct answers | verified solutions What is a Modular Policy? - -A modular policy is a policy consisting of several different documents, none of which by itself forms a complete contract. What is a Commercial Package Policy (CPP)? - -A Commercial Package Policy is a modular policy that combines different forms and more than one line of coverage. What must a CPP policy consist of? - -A Declaration Page (stating premium charges and cove...

In a commercial property policy, concealment, misrepresentation or fraud could cause a policy to: - ANSWER-Be voided, denied or cancelled. NOTE: This is a common condition in the commercial property policy Any licensed agent or broker may submit risks to the FAIR plan: - ANSWER-But there is no binding authority. NOTE: An agent never has binding authority with the FAIR plan. Under the Building and Personal Property coverage form, vacancy means: - ANSWER-Insufficient business property ...

What is a Modular Policy? - ANSWER-A modular policy is a policy consisting of several different documents, none of which by itself forms a complete contract. What is a Commercial Package Policy (CPP)? - ANSWER-A Commercial Package Policy is a modular policy that combines different forms and more than one line of coverage. What must a CPP policy consist of? - ANSWER-A Declaration Page (stating premium charges and coverage limits) A Policy Conditions (six conditions that apply to the entire...

The term "Time element Coverage" is used when the amount of loss depends on what? The time it takes to repair, rebuild, or restore damaged property.The term time element coverage is used for many indirect losses, such as a business income loss, because the amount of loss might not be directly related to the amount of property damage that occurred, but it is related to the time it takes to repair,, rebuild, or restore the damaged property. Many factors can influence the ultimate loss, incl...

California Commercial Insurance Exam What is a Modular Policy? (Ans) - A modular policy is a policy consisting of several different documents, none of which by itself forms a complete contract. What is a Commercial Package Policy (CPP)? (Ans) - A Commercial Package Policy is a modular policy that combines different forms and more than one line of coverage. What must a CPP policy consist of? (Ans) - A Declaration Page (stating premium charges and coverage limits) A Policy Conditions (six c...

What is a Modular Policy? A modular policy is a policy consisting of several different documents, none of which by itself forms a complete contract. What is a Commercial Package Policy (CPP)? A Commercial Package Policy is a modular policy that combines different forms and more than one line of coverage. What must a CPP policy consist of? A Declaration Page (stating premium charges and coverage limits) A Policy Conditions (six conditions that apply to the entire contract) Two or more Cove...

What is a Modular Policy?A modular policy is a policy consisting of several different documents, none of which by itself forms a complete contract. What is a Commercial Package Policy (CPP)?A Commercial Package Policy is a modular policy that combines different forms and more than one line of coverage. What must a CPP policy consist of?A Declaration Page (stating premium charges and coverage limits) A Policy Conditions (six conditions that apply to the entire contract) Two or more Coverag...

The term "Time element Coverage" is used when the amount of loss depends on what? The time it takes to repair, rebuild, or restore damaged property.The term time element coverage is used for many indirect losses, such as a business income loss, because the amount of loss might not be directly related to the amount of property damage that occurred, but it is related to the time it takes to repair,, rebuild, or restore the damaged property. Many factors can influence the ultimate loss, incl...

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