CAIB 2 - Chapter 2
3 advantages of using a fact find or survey—ANSWER--1) Assists brokers when
identifying potential losses 2) Assists brokers not to sell coverages the client does not
need 3) Assists brokers in collecting information needed by insurance companies
3 benefits of commercial property checklists—ANSWER--1) Assists brokers when
identifying potential losses 2) Assists brokers to make sure coverages are not
overlooked 3) Assists brokers in reducing E&O losses
Define "Fire Resistive"—ANSWER--This means that the building has achieved the
standard set in hours to remain structurally sound when attacked by fires
Define "Non-Combustible"—ANSWER--These buildings are slightly below the standard
of fire resistive structures
5 areas where insurers request additional information when the building is 25 years or
older (WHORP)—ANSWER--1)Wiring 2) Heating 3) Over-current protection 4) Roof 5)
Plumbing
5 fire hazards common to commercial buildings—ANSWER--1) Heating 2) Occupancy 3)
Protection 4) Electrical Services 5) Detachment
Define "Detachment"—ANSWER--The distance between the insured building to other
commercially rated buildings
3 advantages of using a fact find or survey—ANSWER--1) Assists brokers when
identifying potential losses 2) Assists brokers not to sell coverages the client does not
need 3) Assists brokers in collecting information needed by insurance companies
3 benefits of commercial property checklists—ANSWER--1) Assists brokers when
identifying potential losses 2) Assists brokers to make sure coverages are not
overlooked 3) Assists brokers in reducing E&O losses
Define "Fire Resistive"—ANSWER--This means that the building has achieved the
standard set in hours to remain structurally sound when attacked by fires
Define "Non-Combustible"—ANSWER--These buildings are slightly below the standard
of fire resistive structures
5 areas where insurers request additional information when the building is 25 years or
older (WHORP)—ANSWER--1)Wiring 2) Heating 3) Over-current protection 4) Roof 5)
Plumbing
5 fire hazards common to commercial buildings—ANSWER--1) Heating 2) Occupancy 3)
Protection 4) Electrical Services 5) Detachment
Define "Detachment"—ANSWER--The distance between the insured building to other
commercially rated buildings
