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29 Cards in this Set
- Front
- Back
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What is the term for a manufacturer being held liable for injury from a product even if the product isn't defective? |
Strict liability |
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What does a condominium commercial unit owners coverage form not cover? Business property, stock, buildings exterior wall, or improvements owned by insured? |
Building exterior wall, they only own 1 unit the exterior wall should be covered by the condo association |
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What are the rules on limits for supplementary payments? |
Supplementary payments unclude all expenses incurred by insurer without limit |
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Which coverages do supplemtary payments apply to on the CGL? |
A & B only |
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What's the term for the equal sharing of a loss by 2 or more insurers until the loss is paid or has exhausted limits |
Contribution by equal shares |
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Which Dwelling policy is coverage B included in the overall policy limit of A? |
DP-1 |
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What's not included in valuable papers and records? |
Property held as samples, money and data |
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What kind of liability coverage would an insured need who goes to clients offices and residents for work? |
Premises and operations |
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Resident dwellings can have no more than ___ residential units and ___ roomers or boarders |
4, 2 |
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What does a boatowners policy not cover? Personal property, property, medical, or hull? |
Personal property |
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Does an occurrence form have a retroactive date? |
No, only claims made |
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What coverage and payout is an H04 |
Named peril, on ACV |
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What is coverage D of the dwelling policy? |
Fair rental value (civil authority) |
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How many hours after the first tremor earth movement covered? |
168 hours |
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Which method of writing would someone have for separate buildings on separate policies? |
Specific limit |
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What form of settlement are all coverages on the DP-1 basic form? |
ACV |
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What is part 6 of work comp? |
Conditions |
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What is a schedule of benefits for on a work comp policy? |
Permanent partial disability |
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What kind of rights are the rights to recover payment from a negligent third party, even after insurance pays the loss? |
Subrogation rights |
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How a trees and shrubs covered on dwelling policies? |
5% of A and no more than $500 per item |
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What are special damages? |
Actual known expenses |
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Is liability mainly to protect from loss suit cost of damages? |
Cost of damages |
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How us replacement cost paid? |
At today's costs without a deduction for depreciation |
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What type of liability policy has the insured collect benefits from their insurance without determining negligence? |
No fault |
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What does IM cover besides moving property? |
Instrumentalities of transportation |
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What is the decimal for 66 2/3%? |
66.67% |
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How many days does an employee have to report and injury for work comp |
30 days |
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How many days does an insurer have to notify the director of a new agent? |
30 days |
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What kind of carriers do surplus lines brokers place coverage with? |
Authorized nonadmitted carriers |
