A proposal for insurance that's presented to the underwriter for consideration. It can
include an application, and additional verbal and written information (i.e., previous
policy premium, loss details and history, financial statements and photos).
o :# "Submission."
1) Assists to identify lo...
CAIB 2 - CHAPTER 2 Questions and
Answers
A proposal for insurance that's presented to the underwriter for consideration. It can
include an application, and additional verbal and written information (i.e., previous
policy premium, loss details and history, financial statements and photos).
o :# "Submission."
1) Assists to identify loss exposures;
2) Helps eliminate purchase of coverage that isn't needed;
3) Assists in development of underwriting information the insurer needs.
o :# Three purposes of survey forms.
1) Alerts broker to possible loss exposures;
2) Ensures needed coverages are not overlooked;
2) Helps reduce potential for an E&O claim.
o :# Three advantages of using a property checklist with clients.
Frame.
o :# The type of commercial building construction that's likely to produce the
highest insurance rate.
, 2024/2025 2|Page
Fire resistive.
o :# The type of commercial building construction that's likely to produce the
lowest insurance rate.
25 years or older.
o :# The age a building has to be for an insurer to request information about
recent renovations or upgrading.
1) Roof;
2) Wiring;
3) Over-current protection;
4) Plumbing;
5) Heating.
o :# The five kinds of building upgrades to a building that are likely of most
interest to insurers.
1) Heating;
2) Electrical services;
3) Detachment;
4) Protection;
5) Occupancy.
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