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23 Cards in this Set
- Front
- Back
3 property coverage forms for farm property coverage |
- farm dwellings, appurtenant structures, and household property coverage form - farm personal property coverage form - barns, outbuildings, and other farm structures coverage form |
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levels or property coverage included in the iso farm property coverage forms |
basic, broad, and special |
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farm liability coverage form combinations of coverage |
covers both personal and farm liability by combining elements of homeownes liability and cgl. |
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farm personal property - coverage e |
farm machinery rented or borrowed farm equipment livestock poultry bees, worms, and fish grain and feed hay straw farm products computers |
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crop hail insurance |
insurance offered by privae insurers that covers crops against loss caused by hail and often other perils |
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multiple peril crop insurance |
insurance offered by the federal government that covers unexpeted crop production losses due to natural causes such as drought, excessive moisutre, hail, wind, and flood |
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animal mortality insurance |
covers loss of valuable animals by death resulting from accident, injury, sickness, or diseas or theft, subject to exclusions |
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livestock cov vs animal mortality ins |
livestock is broad and has limit of 2000. animal mortality is open peril and can have higher limts |
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feedlot insurance |
to insure a feedlot operator against loss of animals owned by others while in the operato's custody for custom feeding before slaughter |
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financial institution bond |
covers the crime loss exposures of financial institutions such as banks, savings and loan, and insurance companies. |
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def of employee in bond form 24 vs commercial crime form |
defintion is broader in bond 24 form to include attorneys and corporations and their employees |
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parties whose custody much be in order to be covered under insuraing agreement c of bond form 24 |
messengers and transportation company |
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coverage provided by insuring agreement g - fraudlent mortgages of bond form 24 |
covers loss resulting from insured's good faith acceptance of a mortgage or deed that proves to be defective because signature was obtained through false pretense |
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loan exclusions of bond form 24 |
insured advances funds to borrower with expectation of repayment in the normal course of business but such payment is not made. bond excludes coverage for the resulting loss |
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combination safe depository policy |
policy that enables a financial institution to cover loss of or damage to its customers' property in the insured's safe depository facilities and damage to the insured's premises |
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mortgage impairment insurance |
insurance that protects a lending institution or mortgage servicing agency against losses arising out of the insured's failure to maintain insurance protecting mortgaged property |
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mortgage guarantee insurance |
insurance that protects a mortgageholder from loss if the borrower fails to repay the mortgage loan |
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title insurance |
insurance that protects against loss reulting from defects in a title to real property |
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computer systems fraud insurance agreement |
covers losses caused by someone who has managed to enter or change electronic data in insured's computer system |
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loss of customer's property - premises damage |
- loss of customer's property by actual or attempted burglary or robberty - damage to the insured's premises and all furnishings, fixtures, etc resulting from actual or attempted burglary, robbery, or vandalism |
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mortage gurantee insurance |
covers amount of loan, interest, taxes and insurance cost |
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3 basic catergories under ISO market segment program |
1. provisions that add higher limits for coverage extensions or additional coverages 2. provisions that add coverages available in other ISO forms 3. provisions that add coverages not found in other ISO forms |
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merchandise withdrawal expesnes |
covers expenses assocaited with the recall or withdrawal of items sold or held for sale because of known or suspected defect. not found in ISO form |