Alabama Insurance test study || All Questions Answered Correctly.

Loss Sustained Form correct answers Form that covers losses actually sustained during the policy period and discovered no later than one year after policy expiration. Fiduciary Responsibility correct answers The legal duty of a representative to manage property in the interest of the owner. Directors and Officers Liability Insurance correct answers This insurance is designed to pay for damages arising from wrongful acts that do not lead to property damage, bodily injury, advertising injury, or personal injury. if an insured bakery is sued because its marketing states the products of another bakery may not be safe falls under the CGL policy correct answers Personal and Advertising Injury Liability 30 days correct answers property coverage under DP applies on a pro rata basis at both locations, how many days if an insured is in process of moving to a new location? Personal Injury Protection correct answers Not an additional liability coverage automatically in home owners policy Homeowners protection (HO) most similar to correct answers Business owners protection (BOP) is most similar to HO-6 correct answers designed to provide named peril coverage for personal property to individuals who rent an apartment. how soon after an insurer received proof of loss must they make the payment? correct answers 60 days provided by insureds policy on excess basis correct answers Under PAP (personal automobile policy), Liability for bodily injury (BI) resulting from insureds use of a non owned automobile is Statements regarding insurable risks correct answers -must involve loss that definite as to cause/time/place/amount -insureds can be randomly selected -insurance cannot be mandatory -insurance risks needs to be statistically predictable If a policy holder has an equipment breakdown policy with a $200k limit and a boiler explosion causes $100k damage to itself, $50k to the building, and $30k in expediting expenses, how much will the insured collect under policy? correct answers $180k