Premises types in cgl - Study guides, Class notes & Summaries

Commercial Casualty II - CISR Exam Questions And Answers All Verified By An Expert In BAP what does the liability section provide protection from claims for? - ANS Bodily Injury and Property Damage for which the insured is legally responsible for. In the BAP physical damage section what type of protection? - ANS provides coverage for damage to or loss of an insured's covered auto. What other BAP coverages can be added by endorsement? - ANS Medical payments personal injury pr...

The coverage territory of the Business Auto form provides for "worldwide liability coverage" for private passenger autos that the insured: a) Hires, leases, rents or borrows without a driver while outside the United States, its territories and possessions. b) Purchases while outside the United States, its territories and possessions. c) Sells while outside the United States, its territories and possessions. d) Occupies while outside the United States, its territories and possession...

Types of Casualty Policies, Bonds and Related Terms Verified Answers personal injury ️injury to a persons character advertising injury ️nonphysical injury to a business (defamation) coverage territory ️-united states -US territories and possessions -Canada premise and operations ️hazards related to ownership, maintenance or use of the insured's premises and all business operations premises liability ️any losses on premises operations liability ️losses from services or...

CIC Commercial Casualty CGL Exam test with Answers Graded A+ 1. 6 Casualty exposures covered by CGL policy 2. Premises types in CGL 3. Locations of business operations CGL 4. Types of products covered by CGL 5. 3 types of contractual exposures in CGL Premises, Business operations, Products, Complet- ed operations, Contractual, Contingent/vicarious Any location owned, rented, leased, borrowed, or used for business On premises or away from premises Retail, wholesale, distributed, o...

California Property and Casualty Insurance Test Questions and Answers Rated A 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 rest...

In property insurance, the term "property in transit" refers to which one of the following? C. Property while being transported by trucks, cars, buses, trains, airplanes, and ships Extra expenses are expenses, in addition to ordinary expenses, that an organization incurs to mitigate the effects of a business interruption. Which one of the following is an example of an extra expense? B. Cost to rent temporary office space Radley Contracting Company is installing new signage on the front of...

An insured is sued under a CGL policy. The legal costs are $25,000, prejudgment interest is $9,000 and the judgment against the insured is $300,000. The insured has a $300,0000 CGL occurrence limit on the policy. How much will the insurer pay? ANS- $334,000 What is the order for claim payments if all of the following applied: Medical Payment, Workers' Compensation, Personal Injury Protection? ANS- WC, PIP, MP All of the following are penalties under the Florida No-Fault Law: ANS- Drivers L...

A claim that is characterized by an extended delay between the claim's triggering event and the reporting of the event to the insurer. - Long-Tail Claim The most commonly used standard form for providing CGL insurance is the ____ of Insurance Services Office (ISO). This coverage form can be combined with CGL declarations and any applicable endorsements to form a CGL coverage part. This coverage part can be either included in a commercial package policy or issued as a monoline policy. - Com...

Casualty Insurance Exam Questions and Answers 100% Pass Coverage that is triggered when a claim is first made against the insured, regardless of when the injury took place, is known as - Correct Answer ️️ -Coverage under the claims-made form According to the other insurance condition, which of the following are methods used to decide how the claim will be divided? - Correct Answer ️️ -Contribution by equal shares or contribution with limits Which of the following limits of liabil...

Property And Casualty Insurance Exam Questions And Answers Part One 1. Authorities an Agent Can Hold: - An agent can hold both express (explicitly granted) and implied (implicitly inferred) authorities to act on behalf of the principal (typically an insurer). 2. Definition of Permanent Partial Disability: - Permanent partial disability refers to disabilities such as the loss of a limb, hearing, or eyesight, where the impairment is permanent but only partially affects the individual's ...