CIC Commercial Multi-Line Exam Questions and Answers

CIC Commercial Multi-Line Exam Questions and Answers Describe how inland marine insurance started - Answer ️️ -evolved from ocean marine -filled gap in coverage as good transitioned from ocean marine -cover goods in transit over land Does inland marine also apply to instruments of transportation and communication? - Answer ️️ Yes, ex. Bridges, tunnels, piers, cell towers, pipelines. What is the basic exclusion applicable to inland marine? - Answer ️️ Property in a fixed location is not eligible for marine insurance Lost 4 types of floaters - Answer ️️ -jewelry -fine arts -guns -wine List characteristics of filed or controlled forms - Answer ️️ -Relative uniformity of exposures -Tend to be specialty coverages -Inflexible terms/conditions -Outcome of filed or conrtrolled forms is.... rates are filed and coverage forms are filed