Commercial General Liability
What are the 3 liability coverages included in the commercial. general liability
(CGL) coverage Form? - correct answer ✔Coverage A- Bodily injury. and
Property damage.
Coverage B- Personal and advertising injury
Coverage C- medical payments.
In commercial inland marine policies, who transports the property of anyone
who hires them? - correct answer ✔Common carriers
What is the purpose of interline endorsements in commercial package policies
(CPPs)? - correct answer ✔to eliminate redundancy and minimize the
number of other policy endorsements.
What type of property would be covered under Builder's Risk Coverage Form?
- correct answer ✔The building, temporary structures, foundations, fixtures,
equipment, and materials and supplies within 100 feet of the premises
What are the coverage parts that may be included in a commercial package
policy (CPP)? - correct answer ✔Commercial property, general liability,
crime, equipment breakdown, auto, inland marine, and farm.
Commercial property coverage can be written with one of three causes of loss
forms. What are they - correct answer ✔Basic, Broad, and special
What is a commercial floater? - correct answer ✔an Inland marine policy
designed to cover movable property, wherever it may be located.
, What is the difference between a personal injury and a advertising injury? -
correct answer ✔Personal injury refers to individuals; advertising injury is
incurred to a business. Both, however are nonphysical injuries.
What types of entities can be insured under General Liability policy? - correct
answer ✔sole proprietors, partnerships and corporations.
What is the limit that the insurer will pay for all losses that occur during a
policy period? - correct answer ✔aggregate limit
a liability policy that covers all claims arising out of incidents occurring during
the policy period, regardless of whether or not the policy is still in effect at the
time of the claim, is known as - correct answer ✔an occurrence policy
what are the two coverage triggers in commercial crime policies? - correct
answer ✔discovery form and sustained loss form.
Which coverage would a business owner need in a crime policy to cover
money that may be stolen from a messenger? - correct answer ✔outside
premises
What is the purpose of a claims-made form? - correct answer ✔to pay for
bodily injuries or property damage reported during the policy period
how are supplementary payments paid in liability insurance policies? - correct
answer ✔in addition to the limits of liability
What components make up a commercial Policy? - correct answer ✔Policy
cover; policy decelerations; interlines endorsements; lines of insurance
declaration pages; lines of insurance coverages forms; common policy
What are the 3 liability coverages included in the commercial. general liability
(CGL) coverage Form? - correct answer ✔Coverage A- Bodily injury. and
Property damage.
Coverage B- Personal and advertising injury
Coverage C- medical payments.
In commercial inland marine policies, who transports the property of anyone
who hires them? - correct answer ✔Common carriers
What is the purpose of interline endorsements in commercial package policies
(CPPs)? - correct answer ✔to eliminate redundancy and minimize the
number of other policy endorsements.
What type of property would be covered under Builder's Risk Coverage Form?
- correct answer ✔The building, temporary structures, foundations, fixtures,
equipment, and materials and supplies within 100 feet of the premises
What are the coverage parts that may be included in a commercial package
policy (CPP)? - correct answer ✔Commercial property, general liability,
crime, equipment breakdown, auto, inland marine, and farm.
Commercial property coverage can be written with one of three causes of loss
forms. What are they - correct answer ✔Basic, Broad, and special
What is a commercial floater? - correct answer ✔an Inland marine policy
designed to cover movable property, wherever it may be located.
, What is the difference between a personal injury and a advertising injury? -
correct answer ✔Personal injury refers to individuals; advertising injury is
incurred to a business. Both, however are nonphysical injuries.
What types of entities can be insured under General Liability policy? - correct
answer ✔sole proprietors, partnerships and corporations.
What is the limit that the insurer will pay for all losses that occur during a
policy period? - correct answer ✔aggregate limit
a liability policy that covers all claims arising out of incidents occurring during
the policy period, regardless of whether or not the policy is still in effect at the
time of the claim, is known as - correct answer ✔an occurrence policy
what are the two coverage triggers in commercial crime policies? - correct
answer ✔discovery form and sustained loss form.
Which coverage would a business owner need in a crime policy to cover
money that may be stolen from a messenger? - correct answer ✔outside
premises
What is the purpose of a claims-made form? - correct answer ✔to pay for
bodily injuries or property damage reported during the policy period
how are supplementary payments paid in liability insurance policies? - correct
answer ✔in addition to the limits of liability
What components make up a commercial Policy? - correct answer ✔Policy
cover; policy decelerations; interlines endorsements; lines of insurance
declaration pages; lines of insurance coverages forms; common policy
