CIC Commercial Multi-line Exam Prep

Distinguish between Covered Property and Property Not Covered under the Businessowners Coverage Form. - Answer- Covered: Buildings: Includes PP of landlord (common areas, furnished) Covers Bridges, Retaining Walls, Wharves, Docks Replacement Cost BPP: Includes Property of Others (in CCC) Exterior Building Glass Replacement Cost Not Covered: Money/Securities Fences, radios, antennas, towers, signs (detached) plants Installed computers (in vehicles etc) Electronic Data Identify and describe the Additional Coverages, Coverage Extensions, and Limits Of Insurance of the Businessowners Policy. - Answer- Additional Coverages: Fire Department ($2.5k) B.I.- 12 mo ALS, 72 hr Waiting period payroll 60 days covers normal operating expenses triggered by suspension (slowdown, cessation, premises is untenable) by covered loss Extra Expense- No waiting period, 12 mo. pays additional cost while operations are disrupted Civil Authority- if authority shuts you down- 4 wks 72 hr waiting (BI/EE) Money Orders & Conterfit money: $1k Forgery or Alterations Increased Cost of Construction BI from dependent properties Fire Extingushers Electronic Data Interruption of Computer Operations