CISR-Commercial Casualty I Exam Study
Guide Questions and Answers
Statues - ✔a law enacted by a legislative body
Contracts - ✔legally binding agreement between tow or more parites that creates
mutual obligations involving specific activities and transactions
Compensatory Damages - ✔special damages or general damagese
Special Damages - ✔a specific dollar amount that covers the costs of medical bills,
lost income, rehabilitation expenses, or repair or replacement of property
General Damages - ✔subjective dollar amounts for intangible losses such as pain and suffering
punitive or exemplary damages - ✔damages imposed to punish a wrongdoers conduct
to deter such conduct in the future
3 parts of Commercial General Liability Coverage Form - ✔Coverage A Bodily Injury
and Property Damage Liabiltiy
Coverage B Personal and Advertising Injury Liability
Coverage C Medical Payments
endorsements - ✔statements that change, add to, or limit coverage
, Liability exposures covered by the CGL coverage Form - ✔Premises Liability
Operations Liability
Products Liability
Completed Operations Liability
Contractual Liabilitiy
Contingent (Vicarious) Liability
Personal and Advertising Injury Liability
Three types of Insureds - ✔Named Insured
Automatic Insured
Additional Insured
Named Insured - ✔the person or organization specifically named on the Declarations
Automatic Insured - ✔specific parties that are granted status as an insured; depends on
the type of organizational structure of the Named insured
coverage does not extend to non-business activities
Additional Insured - ✔third parites that are granted status through a deliberate
endorsement Status is based on the business relationship between two entites
Individual Automatic Insureds - ✔Named individual and Spouse
Partnership or Joint Venture automatic insureds - ✔Named Partnership
Named Joint Venture
Partner
Members
Guide Questions and Answers
Statues - ✔a law enacted by a legislative body
Contracts - ✔legally binding agreement between tow or more parites that creates
mutual obligations involving specific activities and transactions
Compensatory Damages - ✔special damages or general damagese
Special Damages - ✔a specific dollar amount that covers the costs of medical bills,
lost income, rehabilitation expenses, or repair or replacement of property
General Damages - ✔subjective dollar amounts for intangible losses such as pain and suffering
punitive or exemplary damages - ✔damages imposed to punish a wrongdoers conduct
to deter such conduct in the future
3 parts of Commercial General Liability Coverage Form - ✔Coverage A Bodily Injury
and Property Damage Liabiltiy
Coverage B Personal and Advertising Injury Liability
Coverage C Medical Payments
endorsements - ✔statements that change, add to, or limit coverage
, Liability exposures covered by the CGL coverage Form - ✔Premises Liability
Operations Liability
Products Liability
Completed Operations Liability
Contractual Liabilitiy
Contingent (Vicarious) Liability
Personal and Advertising Injury Liability
Three types of Insureds - ✔Named Insured
Automatic Insured
Additional Insured
Named Insured - ✔the person or organization specifically named on the Declarations
Automatic Insured - ✔specific parties that are granted status as an insured; depends on
the type of organizational structure of the Named insured
coverage does not extend to non-business activities
Additional Insured - ✔third parites that are granted status through a deliberate
endorsement Status is based on the business relationship between two entites
Individual Automatic Insureds - ✔Named individual and Spouse
Partnership or Joint Venture automatic insureds - ✔Named Partnership
Named Joint Venture
Partner
Members
