CAIB 3 questions with correct answers

Identify the five mounting losses of liability insurers of the 1980's - Answer 1. Disproportionately high court awards in the USA 2. Environmental Disasters 3. Aviation Disasters 4. Inadequate assessment of potentially dangerous risks 5. Latent bodily injury claims Identify the five sections of the IBC 2100 - Answer 1. Coverages (A,B,C,D) 2. Who is an insured 3. Limits of insurance 4. Commercial General Liability conditions 5. Definitions Identify the four coverages of Section 1 of the IBC 2100 - Answer A. Bodily injury & Property Damage Liability B. Personal Injury & Advertising injury Liability C. Medical Payments D. Tenants Legal Liability Identify the eight key features of Insuring Agreement 1 - Answer 1. Coverage provided for bodily injury and property damage only 2. Payment made only for 'those sums that the insured becomes legally obligated to pay' 3. Insurer liable for payment of compensatory damages only 4. Coverage is provided only for losses which occur during