Bpp building coverage - Study guides, Class notes & Summaries

CIC Commercial Multi-line Exam Prep Questions Answers Distinguish between Covered Property and Property Not Covered under the Businessowners Coverage Form. - Answer ️️ Covered: Buildings: Includes PP of landlord (common areas, furnished) Covers Bridges, Retaining Walls, Wharves, Docks Replacement Cost BPP: Includes Property of Others (in CCC) Exterior Building Glass Replacement Cost Not Covered: Money/Securities Fences, radios, antennas, towers, signs (detached) plants Install...

An insured who owns a large business has been comparing the different types of commercial insurance policies. The insured would likely choose a Commercial Package Policy (CPP) because it will provide - The option to add lines of insurance for most coverages that are needed. (It will provide the option to add lines of insurance for most coverages that are needed.) The risk manager of a midsize manufacturing company would like several specific property coverage enhancements and a seamless app...

If a building under a BPP has been vacant over 60 days, the BPP will cover? - ANSWER Fire, Wind, Explosion, and Volcano are all covered after 60 days of vacancy A CGL provides liability coverage for: - ANSWER A person whose reputation is harmed by the insured's innocent dissemination of information. Law of Large Numbers - ANSWER A principle stating that the larger the number of similar exposure units considered, the more closely the losses reported will equal the underlying probability of...

RMIN 5100S Exam 2 Study Guide 2024 With Complete Solution categories of commercial loss exposures -Correct Answer-property, personnel, liability, net income loss property loss -Correct Answer-- tangible: personal property, real estate -intangible: patent, copyright personnel loss -Correct Answer-death, disability, injury, retirement liability loss -Correct Answer-your responsibility to someone else for property damage, bodily injury, or net income loss net income loss -Correct Answer-re...

CPCU 557 TERMS EXAM 2024 Parties affected by property loss with descriptions (3) - correct answer 1. Property owners: affected directly by lost, damaged, or destroyed property 2. Secured lenders: conditional rights to property (e.g. right to repossess) 3. Property holders: consideration of property held for others (bailee) Conditions for covered BPP (2) - correct answer 1. The property must be located in or on the described building. 2. The property must be located in the open (or in ...

Chapter 7, BPP Exam Questions & Answers 2024/25 If a fire causes $100,000 damage and the debris removal expense is $14,000, a Building and Personal Property policy will pay how much (assuming it has adequate limits of coverage)? - ANSWERS$114,000 If a business insured by a Building and Personal Property policy (BPP) acquires a new business, the new business is insured for a grace period of: 15, 30, 45, 60 days - ANSWERS30 days Which section of a Special (Extended Coverage) form BPP cont...

Washington State Insurance Property & Casualty Exam Final COMPLETE SOLUTION Questions with 100% Correct Answers If a building under a BPP has been vacant over 60 days, the BPP will cover? - CORRECT ANSWER Fire, Wind, Explosion, and Volcano are all covered after 60 days of vacancy A CGL provides liability coverage for: - CORRECT ANSWER A person whose reputation is harmed by the insured's innocent dissemination of information. Law of Large Numbers - CORRECT ANSWER A principle stating ...

Washington State Insurance Property & Casualty Exam Final COMPLETE SOLUTION Questions with 100% Correct Answers If a building under a BPP has been vacant over 60 days, the BPP will cover? - CORRECT ANSWER Fire, Wind, Explosion, and Volcano are all covered after 60 days of vacancy A CGL provides liability coverage for: - CORRECT ANSWER A person whose reputation is harmed by the insured's innocent dissemination of information. Law of Large Numbers - CORRECT ANSWER A principle stating ...

An insured who owns a large business has been comparing the different types of commercial insurance policies. The insured would likely choose a Commercial Package Policy (CPP) because it will provide - The option to add lines of insurance for most coverages that are needed. (It will provide the option to add lines of insurance for most coverages that are needed.) The risk manager of a midsize manufacturing company would like several specific property coverage enhancements and a seamless app...

CIC- COMMERCIAL PROPERTY EXAM QUESTIONS WITH COMPLETE ANSWERS What are the types of property not covered - Answer-1. Some excluded because it is customarily insured under another policy 2. Some excluded because it is relatively unsusceptible to loss 3. Some excluded because it's susceptible to loss 4. Exceptions made for certain types of property held for sale by named insured 5. Restricted coverage for certain types of property Additional covered property endorsement - Answer-Exp...