Bailee - Study guides, Class notes & Summaries

identify three reasons why a bailee may have temporary custody of the personal property of another - CORRECT ANSWER-for repair for safekeeping or storage for delivery to others identify three examples of businesses who may be bailees for hire - CORRECT ANSWER-small engine repair shops dry cleaners tailors briefly explain the level of 'ordinary care' to be exercised by a bailee - CORRECT ANSWER-there is a legal duty on the bailee to take the same care of goods of others as wou...

CIC Commercial Multi-Line Exam Questions and Answers Describe how inland marine insurance started - Answer ️️ -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? - Answer ️️ Yes, ex. Bridges, tunnels, piers, cell towers, pipelines. What is the basic exclusion applicable to inland marine? - Answer ️️ Property in a fixed loca...

Idaho Property and Casualty Exam Questions and Answers 2024 Verified Bailee - CORRECT ANSWER-An individual or organization who has taken into its care, custody, and/or control the property of another for servicing, repair, or storage Hazard - CORRECT ANSWER-Something that increases the chance or likelihood of a loss occuring. (physical or moral or morale) Market Value - CORRECT ANSWER-A property policy provision that changes the valuation method otherwise applicable (ACV or RV) to a ...

Identify three reasons why a bailee may have temporary custody of the personal property of another for repair For safekeeping or storage For delivery to others Identify three examples of businesses who may be bailees for hire small engine repair shops Dry cleaners Tailors Briefly explain the level of 'ordinary care' to be exercised by a bailee there is a legal duty on the bailee to take the same care of goods of others as would be taken by a prudent and diligent owner of ...

Texas All Lines Adjuster Test Study Guide & Terms Accumulated Depreciation, Bailee, Claims-Made Form, Deductible - fixed, Estoppel, Federal Crop Insurance Act, Group Risk Income Protection (Crop Insurance), HIPAA, Impaired Property, Joint, Kickbacks, Legal Purpose, McCarren-Ferguson Act, National Resources Conservation Service, Occurrence Form Policy, Paul the Policyholder, Reciprocal Insurers, Scheduled payment release, Tort, Umbrella Liability Policy, Valuation, Waiver, Yield Protection (C...

Arkansas Property and Casualty Insurance ExamCustomer's property whether or not the insured has been negligent An unique feature in a bailee form is that it covers intentional tort Which of the following would NOT be covered by HO liability insurance? 6 Ways to Show Appreciation for Your Child's Teacher Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:37 / 0:54 Full screen 30 days The mail coverage form is always written on a reporting form basis;...

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 ...

Texas All Lines Adjuster Quiz Standard Fire Policy, Personal property loss, Dwelling loss, Home Owners - A provides coverage A (structure) and Coverage B (personal property contents), Special Limits of Liability, Invitee, Licensee, Trespasser, Bailee, Coverage C, Coverage D, Surety Bond, indemnity, additional living expense ALE, FEMA, Inland Marine, Ocean Marine, surety bond, Fidelity Bond, HO-A, ACV Actual Cash Value, Policy holder, Insurance company, stated limit, Errors & Omission's, Prof...

identify three reasons why a bailee may have temporary custody of the personal property of another - ANSWER-for repair for safekeeping or storage for delivery to others identify three examples of businesses who may be bailees for hire - ANSWER-small engine repair shops dry cleaners tailors briefly explain the level of 'ordinary care' to be exercised by a bailee - ANSWER-there is a legal duty on the bailee to take the same care of goods of others as would be taken by a prudent...

A unique feature in a bailee form is that it covers A. A loss that has no exclusions B. The building occupied by the insured whether it is owned or leased C. Customers property whether or not the insured has been negligent D. Fire and theft losses to the insured stock held for sale without any deductibles. correct answers C What is a certificate of insurance A. Written document allowing the insured to inspect the insured's books B. A written document showing to types and amounts of i...