Which one of these is not an example of a coverage that is excluded under Coverage A of the CGL coverage form because it is insured under another
... [Show More] policy?
Liquor liability (Liquor liability is not an example of a coverage that is excluded under Coverage A of the CGL coverage form because it is insured under another policy.
An endorsement that eliminates the liquor liability exclusion and provides coverage for organizations in the business of selling or serving alcoholic beverages is an example of which type of endorsement?
Miscellaneous coverage amendment endorsement (
Which one of the following is true regarding the Commercial General Liability's (CGL's) unmanned aircraft coverage endorsements?
Premium for these endorsements is on a "refer to company" basis.
Jill, who is the named insured on an unendorsed Business Auto Coverage Form (BACF), hired Jimmy to assist in her business. Jill asked Jimmy to purchase some business supplies. While he was driving his own car, Jimmy's vehicle was hit by an uninsured motorist. Jimmy's medical expenses were $2,000, and the damage to his car was $4,000. Which one of the following correctly indicates how much Jill's auto insurer will pay Jimmy for his losses?
$0 (An employee of the insured is not an insured if the covered auto is owned by the employee.
An auto dealer advertises that a new vehicle is available for $18,000 with no down payment and an interest rate of 1 percent. A customer attempts to purchase the vehicle, but is told that the price is now $21,000 and the interest rate is 9 percent. The customer files suit, alleging false advertisement of prices and failure to comply with the Truth in Lending Act. Which one of the following correctly describes coverage for this claim under the Auto Dealers Coverage Form?
There will be coverage for the failure to comply with the Truth in Lending Act, but not for the false advertisement of prices. (There will be coverage for the failure to comply with the Truth in Lending Act, but not for the false advertisement of prices.
A claim representative is handling a claim for an auto dealership insured under the Auto Dealers Coverage Form (ADCF). Several new autos and autos left for service by customers were damaged when a fire started in the service building. The representative has verified that the loss occurred to the named insured at an insured location during the policy period; that Sections I and II of the ADCF apply to the losses and that the autos qualify as covered autos. The next step that the representative should take in determining whether coverage applies is to
Review the policy conditions to determine whether they preclude coverage at the time of loss. (The next step that the representative should take in determining whether coverage applies is to review the policy conditions to determine whether they preclude coverage at the time of loss.
The Motor Carrier Coverage Form (MCCF) covers owners and lessors of autos hired by the named insured, subject to conditions. When the hired auto is a trailer, the owner, or anyone else from whom the named insured hires or borrows a covered trailer, is an insured while the trailer is connected to a power unit that is a covered auto or while the trailer is
Not connected to a power unit but is being used exclusively in the named insured's business. (The owner is an insured while the trailer is connected to a power unit that is a covered auto or while the trailer is not connected to a power unit but is being used exclusively in the named insured's business.
Which one of the following would always be excluded under employers liability insurance?
An employee files a claim for depression resulting from harassment at work.
Bill's Premium Packing (BPP) operates a fruit and vegetable canning operation. It purchases its produce from growers in three states in the Northeast. As a result, its operations are seasonal and during peak periods it depends on large numbers of casual laborers who are exempt from coverage under the applicable state workers compensation laws. Therefore, the company has purchased a Voluntary Compensation and Employers Liability Endorsement for its Workers Compensation and Employers Liability Insurance (WC&EL) Policy. When a casual laborer is badly injured on the job, the worker launches a lawsuit against BPP, alleging negligence. Which one of the following best describes how BPP's WC&EL insurer would respond?
The insurer would defend the insured against the employee's suit and pay any settlement awarded, subject to the stipulated limits of liability.
Some organizations such as school boards, municipalities, and non-profit organizations carry a special type of directors and officers (D&O) liability policy. What is the name given to this type of D&O coverage?
Occupation-specific
An unendorsed securities brokers professional liability policy will insure the firm and registered representatives for claims alleging negligence committed on the firm's behalf in which one of the following capacities?
Selling life insurance products (An unendorsed securities brokers professional liability policy will insure the firm and registered representatives for claims alleging negligence committed on the firm's behalf while selling life insurance products.
Concerning environmental liability, any organization can cause an intentional tort by
Making loud noises. (Concerning environmental liability, any organization can cause an intentional tort by making loud noises.
A vessel valued at $40 million is carrying cargo for two customers. One customer's cargo consists of $6 million of handheld electronic games. The other customer's cargo consists of $4 million of designer shoes. During a storm, the crew throws overboard $1.5 million in cargo to prevent the vessel from sinking. What is the contribution to general average for the customer who owns the shoes?
$120,000 (The contribution to general average for the customer who owns the shoes is $120,000. $4M/$50M = .08; .08 x $1.5M = $120,000
Which one of the following events would normally trigger the automatic termination provisions of a marine policy and cancel the hull coverage on a cargo vessel?
The ship is chartered by a third party on a bareboat basis. (War risk coverage is excluded, but the policy would remain in force; a bareboat charter would terminate the policy.
Which one of the following property damage-type coverages under a Protection and Indemnity policy covers only cargo of other vessels due to the insured's negligence?
Damage to cargo of others (Damage to cargo of others is a property damage-type coverage that covers only cargo of other vessels due to the insureds negligence.
XYZ repairs personal pleasure boats at its service facility on Lake Sinclair. XYZ often has to keep the boats in its shop for a few days, and thus XYZ has a bailee liability exposure while the boats are in its care, custody and control. Which one of the following marine insurance policies would best protect XYZ from its bailee liability exposure?
Marina operators liability insurance policy
A component parts schedule would be attached to an aircraft policy when underwriting which one of the following in particular?
A very old aircraft or one of relatively low value (A component parts schedule would be attached to an aircraft policy when underwriting a very old aircraft or one of relatively low value.
Which one of the following is true regarding disclosures and endorsements pertaining to the Terrorism Risk Insurance Program Reauthorization Act of 2015 (TRIPRA 2015)?
The endorsements define an insured loss as any loss resulting from an act of terrorism, and for purposes of workers compensation coverage, the endorsements include acts of war. (Endorsements pertaining to TRIPRA 2015 define an insured loss as any loss resulting from an act of terrorism, and for purposes of workers compensation coverage, the endorsements include acts of war.
A large scrap metal dealer sends product to its warehouse in Mexico before it is sold to manufacturers of automobile parts. The scrap metal dealer is headquartered in the United States and covers its foreign risk exposures by using an international package policy. The insurer that issues the policy is most likely domiciled in
The United States. [Show Less]