Unit 7 General Liability

Front 1

All kinds of business need this type of protection to cover liability arising from premises, general operations and products manufactured or sold.

Back 1

General liability

Front 2

Two types of hazards

Back 2

Direct or Indirect

Front 3

Two types of General Liability Forms

Back 3

Occurence or Claims-made

Front 4

Complete CGL contract contains 4 forms

Back 4

Declarations, Conditions, 1 of the 2 coverage forms, (occurence, claims-made) Nuclear energy liability exclusion endorsement

Front 5

Declarations includes?

Back 5

Named insured, address, states the policy period and premium, miscellaneous information about insured, and specifies policy limit

Front 6

Cancellations

Back 6

First 90 days, 20 days notice. After 90 days 45 days written notice, 10 days for nonpayment.

Front 7

Changes

Back 7

May be changed by endorsement agreed by both parties

Front 8

Examination of Books, Records

Back 8

Comoany may audit the insureds book and records during policy period up to 3 years

Front 9

Inspections and Surveys

Back 9

Reserves the right to make inspections, give recommendations but disclaim any liability. (Not mandatory to inspect)

Front 10

Premiums

Back 10

First named insured must pay premiums and will recieve return premiums

Front 11

Transfers

Back 11

Must have written consent, and rights and duties automatically transferred if insured dies.

Front 12

Nuclear Endorsement

Back 12

Excludes all hazards related to nuclear energy

Front 13

Coverage A

Back 13

Bodily injuries and Property damage

Front 14

For coverage to respond who does the claim have to be on?

Back 14

The claim has to be on someone with the status insured.

Front 15

Bodily Injury

Back 15

Physical harm and includes sickness or disease or death

Front 16

Physical Damage

Back 16

Physical injury to tangible property. Includes loss of use.

Front 17

Premises and operations exposure

Back 17

Liability arising out of the business location or its activities

Front 18

Products or completed operations

Back 18

BI or PD occurring away from premises

Front 19

Work is completed when...3 answers

Back 19

1) work is completed for contract. 2) if work is completed at ine site but still has another site. 3) when part of work is done and put to its intended use

Front 20

Contract liability agreement. And give example of store with sign.

Back 20

One business may assume the liability exposure of another business.

Front 21

Vicarious liability

Back 21

Held liable because of its indirect or contingent liability for the actions of its employees, agents, or subcontractors

Front 22

Coverage Limitations

Back 22

BI or PD must be caused by an occurrence that takes place in a coverage territory

Front 23

What is an occurrence. Then explain.

Back 23

An accident, which is sudden, unexpected event.

Front 24

Coverage territory

Back 24

U.S. and its territories or possession, puerto rico and canada, including international waters and airspace between these places

Front 25

Occurence Form

Back 25

BI or PD that occurs during the policy period regardless of any later time

Front 26

Claims-Made Form

Back 26

Only BI or PD that occurs on or after retroactive date. Claim must be recieved during the policy period

Front 27

Where would you find the retro active date

Back 27

Declarations page

Front 28

Basic extended reporting period (BERP) How to get it and what does it do.

Back 28

1)When policy is canceled or renewed. 2) Switched retroactive date. 3) Switched to occurrence form. 1) Have 60 after policy expires. 2) During the 60 days you have 5 years to report it.

Front 29

Supplementary Extended Reporting Period (SERP)

Back 29

Must be requested during BERP. Extends BERP to unlimted and adds 2 new seperate aggregate limits. (Equal to previous)

Front 30

Known Loss Rule

Back 30

One cannot insure against a loss that is already known to have occured

Front 31

Intentional Injury Exclusion

Back 31

Excludes injury or damage that is expected or intended by the insured

Front 32

Contractual Exclusion

Back 32

Liability assumed under contract. Exceptions are 1) If that person woukd be legally liable. 2) leases, sidetrack agreements, and easements.

Front 33

Liquor liability exclusion

Back 33

If insured is in the business of manufacturing, distributing, selling, serving ,or furnishing alcohol beverages. May purchase a seoerate form.

Front 34

Employee Injuries

Back 34

Excludes liabilities under workers compensation

Front 35

Pollution Exclusion

Back 35

Excludes damage or clean uo cost for pollution

Front 36

Aircraft, Autos, Watercraft Exclusions

Back 36

Excludes liability for aircraft, autos, or watercraft. Few exceptions watercraft ashore on premises or less than 26 ft long and not owned and not used to carry people or property for a charge. Parking of other autos on or next to property. Nunerous mobile equipment.

Front 37

Mobile Equipment. How is it covered?

Back 37

Not being hauled or towed. Myst be off trailer and put to intended use.

Front 38

Miscellaneous property damage 1 of 4

Back 38

Excludes insured owns,rents, occupies, or has on loan; or personal property in care, custody, or control.

Front 39

Miscellaneous property damage 2 of 4

Back 39

Premises insured has sold, given away or abandoned

Front 40

Miscellaneous property damage 3 of 4

Back 40

Real property. Which the insured or others are performing operations

Front 41

Miscellaneous property damage 4 of 4

Back 41

Work in progress. That must be restored, repaired, or replaced because the work was incorrectly performed.

Front 42

Insureds Products Exclusion

Back 42

Damage to the insureds iwn products arising out of the product itself.

Front 43

Insured work exclusion

Back 43

CGL excludes damage to the insureds own work

Front 44

Defects, Delays exclusion

Back 44

No coverage for defect, deficiency, inadequacy or dangerous conditions.

Front 45

Recall Exclusion

Back 45

Liability or expense related tp recall because of known deficiency is excluded

Front 46

Electronic data exclusion

Back 46

Loss or damage of electronic data

Front 47

Coverage B

Back 47

Personal and advertising injury

Front 48

Personal and Advertising Injury claims

Back 48

False arrest, detention or imprisonment, malicious prosecution; wrongful entry or eviction. And oral and written. Viokations of rights plus misappropriations of advertising ideas or style or copy write infringement

Front 49

Exclude oral and written publications

Back 49

Publications made with knowledge of falsity or occurring before the policy.

Front 50

Coverage C

Back 50

Medical payments

Front 51

Medical payments cover

Back 51

Medical, dental, hospital, and funeral services. Within 1 year

Front 52

Coverage C does not apply to

Back 52

Any insured, a tenant, employee, one entitled to workers compensation, participating in athletics.

Front 53

Coverage C basic limit

Back 53

Medical payments of 5000