Commercial package policy - Study guides, Class notes & Summaries

Commercial Package Policy (CPP ) (examfx flashcards) questions & answers 2023/2024 What are the 2 coverages triggers in commercial crime policies? - ANSWER-Discovery Form and Loss sustained form What is the purpose of a claims-made form? - ANSWER-To pay for bodily injuries or property damage reported during the policy period What type of perils are covered by the Advertising Injury Form? - ANSWER-Libel, slander, defamation, violation of privacy, infringement of copyright or titles ...

Commercial Package Policy questions and correct answers (elaborations) with 100% accurate , verified , latest fully updated , 2024/2025 ,already passed , graded a+, complete solutions guarantee distinctions rationales| 5-star rating

Commercial Package Policy

The coverage territory of the Business Auto form provides for "worldwide liability coverage" for private passenger autos that the insured: a) Hires, leases, rents or borrows without a driver while outside the United States, its territories and possessions. b) Purchases while outside the United States, its territories and possessions. c) Sells while outside the United States, its territories and possessions. d) Occupies while outside the United States, its territories and possession...

Texas Property & Casualty Insurance License Exam with Accurate Answers 2023 In order to be considered legally binding, an insurance contract must include all of the following - Offer and acceptance. Competent parties. Consideration (The four essential elements of all legal contracts are offer and acceptance, consideration, legal purpose, and competent parties.) With respect to a bonded contractor who defaults on a construction performance contract, which of the following statements is...

Commercial Package Policy (CPP)

GEORGIA PROPERTY & CASUALTY INSURANCE EXAM (LATEST 2024/ 2025 UPDATE) QUESTIONS AND VERIFIED ANSWERS| 100% CORRECT| GRADE A Q: Once an injured employee has received benefits provided under workers' compensation, that employee may not file a suit against her employer to gain additional benefits. This is the def. of A. Contributory negligence B. the fellow servant rule C. Assumption of risk D. Exclusive remedy Answer: D. executive remedy Q: The purpose of the basic extend...

Texas Property and Casualty Exam Questions and Answers Verified 100% ____ is uncertainty of loss - risk ____ is a transfer of risk from the insured to the insurer - insurance ____ risk means there is no chance of gain. It is insurable. - pure ____ risk means there is a chance of a loss or a gain. It is not insurable. - speculative a ____ is something that increases the risk. - hazard the principle of _____ governs property and casualty policies. It states that the purpose of th...

Commercial package property (casualty) latest version graded A+ COMMERCIAL PACKAGE POLICY the commercial package policy was introduced in 1986 to replace the special multiple policy and other related monoline policies. some of the most important goals of this overhaul were the following: *simplify the text of policy forms and endorsements *modernize coverage by eliminating outdated provisions, broadening certain coverages, increasing internal policy limits, and including popular cov...

A tornado severely damages one of Major Manufacturing's plants. As a result of the damage, Major Manufacturing is forced to curtail its operations during the 6 months needed to complete repairs. The resulting loss of income suffered by Major Manufacturing is referred to as CORRECT ANSWERS: a time element loss. Which of the following describes a feature of standard commercial property policies? CORRECT ANSWERS: Several different forms must be combined to make up a policy. The president o...