Commercial Casualty - CIC..

Commercial Casualty - CIC.. What are the two promises the insurer makes? - ANSWER 1. Indemnity 2.Defense A Commercial General Liability Policy may be written as a - ANSWER 1. Monoline Policy 2. Multi-Line Policy 6 different forms of business - ANSWER 1. Individual 2. Partnership 3. Joint Venture 4. Trust 5. Limited Liability Company 6. Organization, including, but not limited to corporations The 5 sections to a CGL Form - ANSWER Section I - Coverages Coverage A - Bodily Injury and Property Damage Coverage B - Personal and Advertising Injury Coverage C - Medical Payments Section II - Who is an Insured? Section III - Limits of Insurance Section IV - CGL Conditions Section V - Definitions Coverage C is more for - ANSWER On the premises and around the premises Operations- away from the premises Premises Liability - ANSWER owners, landlords, and tenants and arises out of the ownership, maintenance, or use of the insured's premises Business Operations Liability - ANSWER Activates involved in the operation of an organization including service repair activities usually done on the premises of others, while the activity is being conducted STILL IN THE HANDS OF THE INSUREDS Products Liability - ANSWER Arises out of the sale, distribution or manufacture of the named insured's product Coverage begins when the product has LEFT THE NAMED INSURED'S PREMISES and is no longer in the named insured's possessions Products - Completed Operations Hazard includes - ANSWER all BI and PD occurring away from premises you own or rent and arising out of "your product" or "your work" except: 1. Products that are still in your physical possession 2. Work that has not yet been completed or abandoned. In Products - Completed Operations Hazard "your work" will be deemed completed at the earliest of the following times: - ANSWER 1. When all of the work to be done at the job site has been completed 2. When all of the work to be done at the job site has been completed if your contract calls for work at more than one job site 3. When that part of the work done at a job site has been put to its intended use by any person or organization other than another contractor or subcontractor working on the same project "Your Product" means - ANSWER any goods or products other than real property, manufactyured, sold, handled, distributed or disposed of by: you, others trading under your name, or a person or organization whose business or assets you have acquired Your product also includes - ANSWER Containers (other than vehicles), materials, parts or equipment furnished in connection with such goods or products Including: -Warranties or representations made at any time with respect to the fitness, quality, durability, performance or use of "Your Product" - The providing of or failure to provide warning or instructions - Does not include vending machines or other property rented to or located for the use of others but not sold "Your Work" means - ANSWER 1. Work or operations performed by you or on your behalf 2. Materials, parts or equipment furnished in connection with such work or operations including: -Warranties or representations made at any time with respect to the fitness, quality, durability, performance or use of "Your Work" - The providing of or failure to provide warning or instructions Completed Operation Liability - ANSWER Arises from activities involved in the operation of an organization including service and repair activities usually done on the premises of others, after the activity has been concluded Coverage begins WHEN THE BUSINESS OPERATION IS COMPLETED - NO LONGER IN INSUREDS HANDS Work that may need service, maintenance, correction, repair or replacement, but which is otherwise complete, will be treated as complete ex. Food consumption on the named insured's premises Liability Exposures under Coverage A - ANSWER -Premises -Operations -Products -Completed Operations -Contractua