Caib 2 Chapter 4

Front 1

What are common off premises coverages?

Back 1

Temporary locations;
Buildings at newly acquired locations;
Contents at newly acquired locations;
Property in transit;

Sales representative;

Front 2

How can the off premises coverages be added?

Back 2

By endorsement or added on declaration page of broad form.

Front 3

When is equipment or stock considered at a temporary location?

Back 3

It is at a location not specified on the policy;
It is not in transit;

It is not at a location owned, rented or controlled by insured.

Front 4

Who might request "contents at a newly acquired location" coverage?

Back 4

Businesses who display merchandise at exhibitions or trade shows may request this coverage if they rent or control their area.

Front 5

Where does the salesman samples floater cover property losses?

Back 5

In transit
Otherwise
-At the home of the rep
-At a trade show
-In the saleman's car and otherwise

Front 6

What property does the instalment sales contract floater provide named perils coverage on?

Back 6

- Property sold under written deferred payment or conditional sale

- Property loaned, leased or rented out for an agreed number of days.

Front 7

What does the peak season endorsement insure?

Back 7

-Predictable increases in stock values for seasonal businesses

Front 8

What are the conditions must be met for payout of the replacement cost endorsement?

Back 8

a) replacement has been made with due diligence and and dispatch

b) replacement shall be on same or adjacent site

c) payment for replacement shall be made after replacement is complete