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45 Cards in this Set
- Front
- Back
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Identify the rights and responsibilities of the first |
1. Authorized to cancel policy 2. Receive notice of cancellation 3. Authorized to make changes in the terms of the policy with insurer's consent |
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Compare and contrast the Occurrence Form with the Claims Made Form as to what activates coverage. |
Occurrence: BI/PD/Personal Advertising Injury must take place during the policy period. A policy must be in place. Claims Made: Must take place after the retroactive date and must be made during the policy period. |
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Determine whether a person or organization qualifies as an insured under Section II ‐ Who is An Insured in the event of a claim situation, and whether any exclusion or limitation applies. |
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Identify the two promises the insurer makes in the Insuring Agreement under Coverage A ‐ Bodily Injury And Property Damage Liability and describe the requirements that must be met for coverage to apply. |
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Apply the definition “coverage territory” to claims |
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Apply the Coverage A exclusions to claims situations. |
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Define and be able to apply the term |
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Apply the Coverage A Liquor Liability exclusion to claims situations. |
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Apply the Coverage A Pollution exclusion to claims |
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Apply the Coverage A Aircraft, Auto Or Watercraft |
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Define and be able to apply the definition “mobile equipment”. |
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Apply the Coverage A Damage to Property exclusion to claims situations. |
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Apply the Coverage A Damage To Your Product |
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Apply the Coverage A Damage To Your Work exclusion to claims situations. |
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Apply the Coverage A Damage To Impaired Property Or Property Not Physically Injured exclusion to claims situations. |
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Apply the Coverage A Recall of Products, Work situations. |
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Apply the Coverage A exception to Exclusions c. through n. to claims situations. |
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Define and be able to apply the definition “personal |
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Apply the Coverage B Contractual Liability exclusion to claims situations. |
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Apply the Coverage B Electronic Chatrooms Or Bulletin Boards exclusion to claims situations. |
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Apply the Coverage B Access Or Disclosure Of |
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Apply the Coverage C exclusions to claims situations. |
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Identify the six Limits Of Insurance and apply them when given a specific claim situation. |
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Coverage A
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Bodily Injury / Physical Damage:
Premises, operations, products, completed operations, contractual, contingent (vicarious) |
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Coverage B
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Personal and Advertising Injury: Operations, contingent (vicarious) |
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Coverage C
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Medical Payments: Premises, operations |
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Premises Liability
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Applies to owners, landlords and tenants and arises out of the ownership, maintenance or use of the insured’s premises. |
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Business Operations Liability
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Liability arises from activities involved in the operation of an organization including service and repair activities usually done on the premises of others, while the activity is being conducted |
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Products Liability
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Arises out of the sale, distribution or manufacture of the product. Coverage begins when the product has left the named insured's premises and is no longer in the named insured's possession. |
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Completed Operations Liability
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Liability arises from activities involved in the operation of an organization including service and repair activities usually done on the premises of others, AFTER the activity has been concluded.
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Contractual Liability
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Arises from one party assuming responsibility of another party |
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Contingent Liability
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Arises out of work performed for the named insured by someone else |
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Personal Injury Liability
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Liability arising from INTENTIONAL torts, such as libel, slander, wrongful eviction. |
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Advertising Liability
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Liability caused by harm from such things as misappropriation of advertising ideas, style of doing business, or infringement of copyright. Coverage applies to the named offenses committed in the course of advertising the named insured's goods, products, or services |
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Volunteer Worker
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Leased Worker
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Temporary Worker |
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Volunteer Worker
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What two promises are found in paragraph a. of the insuring agreement?
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Duty to Defend: contractual duty, not based on legal obligation. However, no coverage, no defense. |
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Bodily Injury
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Bodily injury, sickness, or disease sustained by a person, including death resulting from any of these at any time. |
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Property Damage
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Physical injury to tangible property, including all resulting loss of use of that property. Loss of use of tangible property that is not physically injured. |
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Suit
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A civil proceeding in which damages because of bodily injury, property damage, or personal and advertising injury to which this insurance applies. |
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Occurrence
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An accident, including continuous or repeated exposure to substantially the same general harmful conditions.
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Coverage Territory
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*Suit must be brought to territory. |
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What is included in insured contract?
*LEASE Plus |
Lease of premises except Easement or license agreement except An obligation to indemnify a municipality as required by ordinance except Sidetrack agreement Elevator maintenance agreement Plus, any contract in which the named insured assumes the tort liability of another party to pay for BI or PD to a third person. |
