Ic commercial - Study guides, Class notes & Summaries

Cancellation CORRECT ANSWER-First NI: -may cancel this policy by mailing or delivering to us advance written notice of cancellation -delivering written notice of the cancellation to First NI Named Insured CORRECT ANSWER-Is the person who is authorized to make changes to the terms of the policy with carrier consent Examination of Your Books and Records CORRECT ANSWER-At any time during the policy period and up to 3 years afterward Inspections and Surveys CORRECT ANSWER--Carrier has rig...

CIC COMMERCIAL CASUALTY EXAM 2024 ACTUAL EXAM COMPLETE 200 QUESTIONS WITH DEAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+

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 Installed computers (in vehicles etc) Electronic Data...

Learning Objective 1A - Rights and Duties of the first Named Insured - Answer-1. Authorization to Cancel 2. Receive Cancellation 3. Make Changes with Insurer Consent 4. Responsible for Payment of Premium 5. Payee (Receiver) for Return Premium Learning Objective 1B - How does Coinsurance apply? - Answer-Amount Carried/Amount Required x Loss = Recovery-Deductible (Settlement) or "Did Have"/"Should Have" x Loss = Recovery - Deductible Components of "Common Policy Dec" IL DS 00 09...

Identify and describe the three primary purposes of excess liability/umbrella policies (LO1) CORRECT ANSWER-1. Provide additional limits that are excess over underlying limits of insurance 2. Provide primary coverage when underlying poliy does not respond beacuse its aggregate limits of insruance are exhausted. 3. Provide broader coverage than the exsiting underlying insurance excess liability coverage forms and commercial umbrella liability policy CORRECT ANSWER-1. follow forms - hella ...

CIC Commercial Multiline Exam Questions and Answers 2024 Update.CIC Commercial Multiline Exam Questions and Answers 2024 Update.

Describe how inland marine insurance started -evolved from ocean marine -filled gap in coverage as good transitioned from ocean marine -cover goods in transit over land Does inland marine also apply to instruments of transportation and communication? Yes, ex. Bridges, tunnels, piers, cell towers, pipelines. What is the basic exclusion applicable to inland marine? Property in a fixed location is not eligible for marine insurance Lost 4 types of floaters -jewelry -fine ...

CIC Commercial Multi-line Exam Prep-with 100% verified solutions -tutor verified

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...