Caib 3 chapter 2 - Study guides, Class notes & Summaries

CAIB 3 Chapter 2 Questions and Answers (2024/2025)(Verified Answers)

Identify the five mounting losses of liability insurers of the 1980's - correct answer 1. Disproportionately high court awards in the USA 2. Environmental Disasters 3. Aviation Disasters 4. Inadequate assessment of potentially dangerous risks 5. Latent bodily injury claims Identify the five sections of the IBC 2100 - correct answer 1. Coverages (A,B,C,D) 2. Who is an insured 3. Limits of insurance 4. Commercial General Liability conditions 5. Definitions Identify the four cove...

CAIB 3 CHAPTER 2 WORKBOOK QUESTION with correct answers

CAIB 3 Chapter 2

Identify three sources of liability excluded by the commercial general liability policy. - Answer Pollution Liability - all bodily injury and property damage arising out of pollutants is excluded by the policy expect smoke damage caused by hostile fire on the insured premises would be covered when the insured is liable for such damage. Nuclear Energy Liability - any liability arising out of the operation of a nuclear facility is excluded by the policy coverage is provided for injury or damage...

CAIB 2 CHAPTER 4 QUESTIONS AND ANSWERS RATED A+ Breifly explain the fuctions or endorsements, riders, and separate policies 1. Endorsements; changes the terms or conditions of the insureds policy 2. Riders; adds additional coverage to those already in place 3. Separate policies; equipment breakdown insurance, computer crime, other specialized coverages often purchased separately but can be added to existing policy Identify the endorsement, rider or policy to respond to the following...

CAIB 2 STUDY NOTES CHAPTER 3 Question and answers correctly solved 2024 Identify three leading causes of fires in Canada - correct answer 1. Arson or suspected arson 2. Failure or malfunction of mechanical or electrical equipment 3. Misuse of source of ignition Identify what information is requied by law to apper on all insurance polcies - correct answer 1. Name of parties to the contract 2. Policy period 3. Loss payable of payee 4. Summary of insurance coverages and amounts fo...