Commercial casualty exam - Study guides, Class notes & Summaries

What are the two promises the insurer makes? 1. Indemnity 2.Defense A Commercial General Liability Policy may be written as a 1. Monoline Policy 2. Multi-Line Policy 6 different forms of business 1. Individual 2. Partnership 3. Joint Venture 4. Trust 5. Limited Liability Company 6. Organization, including, but not limited to corporations The 5 sections to a CGL Form Section I - Coverages Coverage A - Bodily Injury and Property Damage Coverage B - Personal and Advertising Inju...

What are 4 major loss exposures covered by CGL Form? LO1 1. Premises Liability (slip and fall due to water on the floor) 2. Operations Liability (Tree trimmer causes damage to power lines by removing fallen limbs) 3. Product Liability (ladder collapses when being used as intended) 4. Completed Operations A contractor installs a hot water heater and leaves the home, 2 days later, water overflows onto the floor causing damage because the hot water heater was improperly installed. ...

CIC COMMERCIAL CASUALTY EXAM 2024 ACTUAL EXAM COMPLETE 350 QUESTIONS WITH DEAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+

Casualty Insurance Exam Coverage that is triggered when a claim is first made against the insured, regardless of when the injury took place, is known as - correct answer Coverage under the claims-made form According to the other insurance condition, which of the following are methods used to decide how the claim will be divided? - correct answer Contribution by equal shares or contribution with limits Which of the following limits of liability in a commercial general liability policy is t...

CIC COMMERCIAL CASUALTY EXAM 2024

Personal Lines Insurance Practice Exam Questions and Answers Latest | 100% Correct. Bobby, age 16, borrows his parents' car without their permission and gets into an accident. Which of the following statements about coverage under the parents' personal auto policy is CORRECT? A) Bobby is covered by his parents' policy because he is included in the definition of named insured. B) Bobby is not covered for this accident because he used the car without permission. C) Bobby is not covered ...

CISR Commercial Casualty Exam Questions With 100% Correct Answers Legal Liability - answerA responsibility or obligation to others, which courts recognize and enforce. In general failure to meet this duty often results in the imposition of monetary damages. 3 Types of Legal Liability - answerTort Liability, Statutory Liability, Contractual Liability 4 Types of Tort Liability - answerNegligence, Intentional Torts, Strict Liability, Absolute Liability Name the four requirements of a neglige...

CISR Commercial Casualty Exam Questions With 100% Correct Answers Legal Liability - answerA responsibility or obligation to others, which courts recognize and enforce. In general failure to meet this duty often results in the imposition of monetary damages. 3 Types of Legal Liability - answerTort Liability, Statutory Liability, Contractual Liability 4 Types of Tort Liability - answerNegligence, Intentional Torts, Strict Liability, Absolute Liability Name the four requirements of a neglige...

Property and Casualty Insurance Mastery Exam A Questions and Answers 100% Pass An insured rents a car while on vacation in Canada and causes an accident. Is there coverage under his personal auto policy? - Correct Answer ️️ -The loss is covered under an unendorsed personal auto policy. Under the workers' compensation laws, which of the following would NOT be covered? - Correct Answer ️️ -Heart-related illness resulting from hereditary causes An insurance policy covers fire, will ...