Monoline policy - Study guides, Class notes & Summaries

Stu has a collection of rare comic books. He wants to purchase theft insurance for his collection, separate from his home and other property. What term most accurately describes the type of policy Stu would purchase? - ANSWER-Monoline Policy Which of the following statements does NOT apply to the Standard Fire Policy? - ANSWER-It automatically covers wind and vandalism. Which of the following refers to being restored to the financial condition you were in before a loss? - ANSWER-Indemnifi...

CPCU 557 Chap 5 Questions & Answers Already Graded A+ Inland Marine Insurance - ️️ Insurance that covers many different classes of property that typically involve an element of transportation Can be included in a commercial package policy or issued as a monoline policy that provides inland marine insurance only. Marine Insurance - ️️ Insurance that, in the US, includes both ocean and inland marine coverage and in the rest of the world is limited to insurance for vessels and cargo ...

What are the two promises the insurer makes? 1. Indemnity 2.Defense A Commercial General Liability Policy may be written as a 1. Monoline Policy 2. Multi-Line Policy 6 different forms of business 1. Individual 2. Partnership 3. Joint Venture 4. Trust 5. Limited Liability Company 6. Organization, including, but not limited to corporations The 5 sections to a CGL Form Section I - Coverages Coverage A - Bodily Injury and Property Damage Coverage B - Personal and Advertising Inju...

Texas all lines adjuster exam questions and answers 100% pass All of the following are criteria for an accident to have occurred "in the course of" the employment under a workers' compensation policy, EXCEPT: -Answer-While performing a task that a fellow worker requested, that was unusual to the employee's job description, but occurred on the employer's premises during working hours. Which of the following statements is NOT TRUE regarding the implied warranties of an Ocean Marine poli...

Standard Fire Policy Correct Answer basic foundation of all homeowner's and commercial policies ACV Named peril policy that only covered fire and lightning First used in 1918 in NY Line of Coverage Correct Answer A particular risk or group of risks covered by an insurance policy Monoline Policy Correct Answer an insurance policy that covers only one risk or type of risk Personal lines Correct Answer for possessions intended for personal use Commercial lines Correct Answer for pos...

Stu has a collection of rare comic books. He wants to purchase theft insurance for his collection, separate from his home and other property. What term most accurately describes the type of policy Stu would purchase? Correct Answer Monoline Policy Which of the following statements does NOT apply to the Standard Fire Policy? Correct Answer It automatically covers wind and vandalism. Which of the following refers to being restored to the financial condition you were in before a loss? Corr...

PROPERTY & CASUALTY QUESTIONS GA EXAM QUESTIONS AND ANSWERS 100% PASS The arbitration clause in a personal auto policy would be used in which of the following circumstances? A. The ins company and a pedestrian struck by the insured's auto cannot reach an agreement regarding the settlement of a claim. B. The insured and an injured 3rd party cannot reach an agreement regarding the settlement of a claim. C. The court have ruled against an injured 3th party. - Correct Answer ️️ -B. The ...

Homeowners Policy - ANSWER Multiline Policy that protects property owners from property and liability risks HO-2 - ANSWER (broad form): covers the dwelling, other structures, and personal property on a named perils basis HO-3 - ANSWER or special form, provides open peril coverage for loss to the dwelling and other structures (most common) HO-4 - ANSWER renters/tenants insurance HO-5 - ANSWER Comprehensive Form HO-6 - ANSWER condominium owner's insurance HO-8 - ANSWER older hom...

Named peril policy that only covered fire and lightning first used in 1918 in NY Line of Coverage A particular risk or group of risks covered by an insurance policy Monoline Policy an insurance policy that covers only one risk or type of risk Personal lines for possessions intended for personal use commercial lines for possessions intended for business or corporate use Homeowners Insurance bundles property and liability insurance into one 'package' policy Property coverage c...

Stu has a collection of rare comic books. He wants to purchase theft insurance for his collection, separate from his home and other property. What term most accurately describes the type of policy Stu would purchase? Monoline Policy Which of the following statements does NOT apply to the Standard Fire Policy? It automatically covers wind and vandalism. Brainpower Read More Which of the following refers to being restored to the financial condition you were in before a loss?...