Coverage a in the cgl Study guides, Class notes & Summaries

Which of the following are the authorities that an agent can hold? - correct answer Express and implied Which of the following terms refers to such disabilities the loss of a limb, hearing , or eye sight? - correct answer Permanent partial disability Who is NOT considered an employee in an commercial general liability (CGL) policy? - correct answer Temporary worker The major portion of the premium of an equipment breakdown policy pays? - correct answer For inspections and examinations ...

2024 CPCU 552, CP&L FINAL EXAM WITH 200 QUESTIONS AND CORRECT ANSWERS (100% CORRECT) Railroad owners commonly require contractors to purchase a Railroad Protective Liability Coverage Form. Which one of the following statements about this form is true? - ANSWER-One of the coverage limits applies to physical damage to property owned by or leased or entrusted to the railroad Which one of the following statements about the general aggregate limit under a Commercial General Liability (CGL...

New York State Property and Casualty Insurance Exam Latest Version Already Passed Physical damage coverage under a garage policy is a blanket limit for covered auto, an accurate statement? Yes; The dealer's physical damage limit would be done on a blanket limit basis. This would apply to comprehensive and collision losses to the auto inventory of the dealer. This is done because it is simply not practical to schedule each dealer owned vehicle for physical damage. This is generally ac...

3 Main Coverage Parts in the CGL Coverage Form, each with its own insuring agreement and exclusions. CORRECT ANSWER-1. Coverage A, 2. Coverage B, 3. Coverage C Coverage A in the CGL CORRECT ANSWER-Bodily Injury and Property Damage LIABILITY - protection for injuries and damage arising out of insured's legal liability to others. Coverage B in the CGL CORRECT ANSWER-Personal and Advertising Injury LIABILITY Coverage C in the CGL CORRECT ANSWER-Medical Payments How are defense costs ...

CIC - Commercial Casualty Institute Latest Update Graded A+ Identify the Specific Rights & Responsibilities of the First Named Insured (Objective #1) 1- Cancel Policy 2- Receive Notice of Cancellation 3- Make Changes to Policy (with Insurer Consent) 4- Payment of Premiums 5- Payee for Returned Premium Compare and Contrast the Occurrence Form with the Claims Made Form, as to what activates coverage (Learning Objective #2) Occurrence Form: - BI/PD must occur during the policy perio...

If I want Replacement Cost coverage on my $200,000 home, I need to purchase how much insurance? a.$60,000 b.$100,000 c.$160,000 d.$200,000 - Answer- 80% of $200,000 is $160,000. The HO only provides Replacement Cost coverage on the structures if they are insured to 80% of value. The correct answer is: $160,000 Water damage to a building resulting from fire fighting efforts is: a.a direct loss indirect loss - Answer- direct loss A car is destroyed by a hurricane. This is: Select ...

Which of the following are the authorities that an agent can hold? - ANSWER-Express and implied Which of the following terms refers to such disabilities the loss of a limb, hearing , or eye sight? - ANSWER-Permanent partial disability Who is NOT considered an employee in an commercial general liability (CGL) policy? - ANSWER-Temporary worker The major portion of the premium of an equipment breakdown policy pays? - ANSWER-For inspections and examinations An insured owns a building val...

All of the following are true regarding aviation insurance EXCEPT: - Answer-It can be added to the CPP A customer has 5 identical vases that are insured on an inland marine floater for $30,000 and 1 of the vases is stolen. The remaining 4 vases are appraised at $20,000, how much will the insurer pay? - Answer-$10,000 Which of the following is not an unfair claims settlement practice? - Answer-Requiring proof of loss to be submitted Theft, disappearance and destruction covers which of th...

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...

NJ Casualty ExamOn a CGL, the ____1____ limits apply separately for each claim, but the ____2____ limit applies to all claims turned in during the policy period. - correct answer 1. Occurrence. 2. Aggregate. The CGL always contains 3 coverage sections: Part A, Part B, and Part C. There is NO ______________. - correct answer Part A - Liability Part B - Personal/Advertising Injury Part C - Medical Payments to Others. - THERE IS NO DEDUCTIBLES. On a CGL Policy, the "Medical to Others" c...