+
Related Flashcards
Cards In This Set
| Front | Back |
|
The Commercial Package Policy (CPP) is a "packaged" policy like the HO Policy. The two parts are?
|
Property and Liability
|
|
Any Buisness client may purchase any ofthe following Commercial coverages as a _____ coverage, or as part of a CPP
|
Monoline
|
|
What are the four parts of a CPP?
|
Common Policy Declarations Page, Interline Endorsements, One or more coverage Parts, and Common Policy Conditions.
|
|
The Common Policy Declarations Page contains what 5 things?
|
The name of the parties to the contract, the policy period, description of the business, a schedule of covered parts and the premiums
|
|
The interline Endorsements are designed to do what?
|
Eliminate duplicate language and minimize the number of endorsements required.
|
|
One or More coverage parts is specified in the Dec page. Although the common declarations provides? And each _____ must have its own sepearte dec page
|
Information regarding the entire CPP, Coverage
|
|
There are 6 Common Policy Conditions which are?
|
Cancellation, policy changes, audit by insurer, inspection by insurer, premium, and transfer or rights.
|
|
Cancellation, Policy Changes, Audit by insurer, Premium, and Transfer of rights are?
|
Common Policy Conditions of the CPP
|
|
Commercial General Liability (CGL) does not cover?
|
Personal Liability
|
|
The CGL has no ______ and it can be written for just about any type of business.
|
Deductible
|
|
The types of business that cannot get a CGL are? because?
|
Auto dealers and repair shops because they have Garage Liability
|
|
CGL will pay for your legal liability to other's resulting from you, or your employee's negligence, however your _____ are not covered.
|
Employees
|
|
____ ____ is always a seperate policy; therefore, your employees are not covered.
|
Workers' Compensation
|
|
GLC, like most Liability policies, have traditionally been written on an __________ _____.
|
Occurrence Basis
|
|
To avoid the problem of having claims turned in much later than when they "occurred" insurers introduced ___ ___ policy forms
|
Claims made
|
