Texas all lines adjuster license commercial general liability chapter 8 2024/2025 passed

Texas all lines adjuster license commercial general liability chapter 8 Commercial general liability ( CGL) - correct answer This covers business liability hazards that are not covered under more specialized forms of insurance such as auto, marine, workers compensation and others. What are three forms of CGL - correct answer Professional liability Product liability Premises liability When liability is limited to acts of negligence, professional liability insurance may be called _______ liability - correct answer "Errors and omissions" The most common cause of action in a products liability claim is______ - correct answer Negligence Claims arising from events outside the policy period or claims reported to the insurer outside the policy period are not covered unless special coverage is purchased or arranged with the insurer. There are two types of special coverages: - correct answer Prior acts "nose" coverage Run off "tail" coverage Prior acts (nose) coverage - correct answer Covers claims that arise from injury or damage occurring BEFORE the policy period, but reported to the the insurer after the policy period begins. Prior acts coverage is provided by establishing a "retroactive date" covering injury or damage occurring after the retroactive date. Run off (tail) coverage - correct answer Also called extended reporting period , pays for residual claims made after your policy expires.