Commercial Casualty 1 Review Questions and Answers

Types of Negligence duties owed, breach of that duty, damages and proximate cause Types of legal liability & how they can be created Torts, Statutory and Contractual Insured Contract: LEASE+ Lease of Premises, Easement/License Agreement, An obligation required by ordinance, Sidetrack agreement and Elevator Maintenance Liability Exposure (Main 4) 1. Premises 2. Products 3. Operations 4. Completed operations 2 types of compensatory damages 1. Special damages 2. General damages Examples of Statutory liability Workers comp and Liquor liability Types of damages that may be covered by a liability insurance policy Compensatory and punitive CG 20 28 Lessors of Leased Equipment (Equipment rented to you) CG 20 11 Managers & Lessors (Landlord to tenant) CG 20 38 Owners, Lessees or contractors Automatic Statues (WRITTEN CONTRACT) CG 20 34 Lessors of Lease Equipment Automatic Statues when required in lease agreement Commercial General Liability - Who is Insured? Employees & Volunteers, Real Estate Managers, Death - Legal representative Who is an Insured? Individual (Sole proprietor) - Names individual and spouse Partnership or Joint Venture - Named partner, Spouse, named venture, partners, members Limited Liability Corp - Members and managers Organization - Names Entity, Executive Officers and Directors and Stockholders Trust - Named Trust and Trustees