Ky Property and Casualty Exam Notes with 100% correct

Ky Property and Casualty Exam NotesWhich of the following is not one of the standard elements of a property insurance contract? Declarations page Conditions Limits of liability Insurable interest - correct answer Limits of liability. Standard elements of property insurance include declarations page, conditions, and insurable interest Lee company is being sued by a customer for an accident The customer believes Lee to be liable for. Lee believes the suit to be baseless, and is confident in the court will throw out the suit. Will Lee's CGL policy pay to defend Lee Company against the suit? Yes, as long as the company takes charge of hiring an attorney. No, the CGL policy does not cover the defensive suits, believe to be baseless Yes, the insurer has a duty to defend the insured without any act on the part of the insured No, the CGL policy does not protect the insured against any lawsuits brought about as a result of an accident - correct answer Yes, the insurer has a duty to defend the insured without any act on the part of the insured.