AINS Quiz | 713

AINS Quiz | 713 Questions with 100 % correct answers | Verified& Updated 2024 Graded A+ Umbrella liability policies almost always provide excess coverage over several primary policies while include all of the following, EXCEPT: - Commercial general liability - Auto liability - Replacement liability - Employers liability - Replacement liability The coverage that an umbrella liability policy provides for claims not covered at all by the underlying policies is called - Drop-down coverage Which one of the following statements about umbrella liability insurance is true? Select one: A. It becomes void when the primary aggregate limits are exhausted. B. It may contain exclusions more restrictive than those found in the primary policies. C. It is normally written as excess insurance only above a comprehensive general liability policy. D. It fills the gaps in primary insurance rather than providing additional coverage. - B. It may contain exclusions more restrictive than those found in the primary policies *Umbrella ins provides additional limits above the insured's primary policies Which one of the following elements would you find in the Conditions of an umbrella liability insurance policy? Select one: A. Maintenance of underlying insurance condition B. Coverage triggers condition C. Restrictions on coverages beyond what may appear on underlying policies condition D. Self-insured retention condition - A. Maintenance of underlying insurance condition The self-insured retention in an umbrella liability policy applies under which one of the following circumstances? - An underlying policy does not cover the claim A self-insured retention (SIR) in an umbrella liability policy is which one of the following? - An amount that is deducted from claims that are payable under an umbrella liability policy and that are NOT covered at all by any primary policy Which one of the following statements is correct regarding the maintenance of underlying insurance condition of an umbrella liability insurance policy if the underlying insurance is not kept in force? - The umbrella policy would cover claims that exceed the limits of the underlying policies as if they had been kept in force *NOT subject to a self-insured retention (S