Businessowners coverage - Study guides, Class notes & Summaries

AINS 103 (New 2023/ 2024 Update) Exploring Commercial Insurance Exam Review _ Questions and Verified Answers_ 100% Correct_ Graded A QUESTION Jenn is a producer for Goshen Mutual. She is trying to determine if a new prospect, Mr. Cooper's Café is eligible for the businessowners policy (BOP). Mr. Cooper's Café is a small restaurant located on the first floor of an office building, serving only breakfast and lunch. Cooking on the premises is limited to coffee makers, a grill, and...

The members of a limited liability company are insureds under a businessowners policy (BOP) if CORRECT ANSWER The limited liability company is designated as the named insured. An endorsement added to a businessowners policy that provides coverage for direct damage caused by utility service disruption stemming from a covered peril is called CORRECT ANSWER Utility Services - Direct Damage. Which of the following would be the insured's duty in the event of a loss according to the duties in e...

AINS103 Practice Questions with All Correct Answers ( Exam) Which one of the following statements about the BOP is true? Select one: A. It provides liability coverage only. B. It provides property coverage only. C. It is designed for large businesses. D. It is designed for small to mid-sized business. - Answer D. It is designed for small to mid-sized business. Julian is the owner of The Clock Shop, a retail store selling a wide variety of clocks for the home and office. He leases the...

Exam FX, VA Property &Exam FX, VA Property & Casualty Insurance Exam Questions and Answers 100% CorrectExam FX, VA Property & Casualty Insurance Exam Questions and Answers 100% Correct Casualty Insurance Exam Questions and Answers 100% CorrectExam FX, VA Property & Casualty Insurance Exam Questions and Answers 100% Correct The members of a limited liability company are insureds under a businessowners policy (BOP) if - ANSWER-The limited liability company is designated as the named insured. ...

AINS 23 ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (ALREADY GRADED A+) NEWEST VERSION Which one of the following statements is correct with respect to limits of liability applicable to Part Two—Employers Liability Insurance? - Answer It includes a bodily injury by disease policy limit. The insurer has no duty to pay defense costs after it has paid damages equaling the applicable limit of insurance. Which one of the following statements is correct with regard to the United States L...

Pearson VUE: Property Insurance Practice Exam Questions and Answers Rated A+ S is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of $100,000. The policy includes an 80 percent Coinsurance clause. To avoid a coinsurance penalty in the event of a partial loss, S should purchase a policy with minimum limits of AT LEAST which of the following amounts? A. $100,000 B. $90,000 C. $80,000 D. $20,000 C The MAXIMUM amount a policy wi...

Pearson VUE: Property Insurance Practice Exam Questions and Answers (100%Verified). 1. S is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of $100,000. The policy includes an 80 percent Coinsurance clause. To avoid a coinsurance penalty in the event of a partial loss, S should purchase a policy with minimum limits of AT LEAST which of the following amounts? A. $100,000 B. $90,000 C. $80,000 D. $20,000: answer- C 2. The MAXIMUM amount a p...

All of the following are eligible for group long term care insurance, EXCEPT: Answer Choices: Select the Correct Answer A group formed as a cooperative to buy insurance at a discount. One or more employer or labor organizations for the benefit of the employees. Any professional, trade or occupational association for the benefit of their bona fide members or retirees. A trust established or maintained for the benefit of members of a qualifying association.Answer - A group formed ...

Which of the following statements is false with respect to requirements for rates? A) Rates may not be inadequate B) A purpose of the rate regulation is to diminish competition between insurers C) Rates may not be unfairly discriminatory D) A purpose of the rate regulation is to regulate cooperative action among insurers - B The Businessowners Coverage Form to the Businessowners Policy provides coverage on which of the following basis? A) Modified Perils B) Simplified Perils C) Broad Pe...

IDAHO PROPERTY AND CASUALTY EXAM PREP 2023/2024 GRADED A+. 1. Which of the following statements is false with respect to requirements for rates? A) Rates may not be inadequate B) A purpose of the rate regulation is to diminish competition between insurers C) Rates may not be unfairly discriminatory D) A purpose of the rate regulation is to regulate cooperative action among insurers: B 2. The Businessowners Coverage Form to the Businessowners Policy provides coverage on which of the fol...