Businessowners

Question 1

How Is the premium paid

Answer 1

As one divisible premium

Question 2

Included territory

Answer 2

USA its territories and Canada

Question 3

What type of policy is a business owner’s policy

Answer 3

Prepackaged stand-alone policy

Question 4

What is the max period of time that the policy will pay for necessary medical expenses

Answer 4

One year

Question 5

What coverages are provided under the business liability form

Answer 5

Bodily injury and property damage personal injury advertising injury and medical expenses

Question 6

Which of the following is not an optional coverage available in business owners policy

• mechanical breakdown
• employee dishonesty
• workers Comp
• outdoor signs exterior Class

Answer 6

Workers comp

Question 7

Seasonal increase on the BOP is How much

Answer 7

25%

Question 8

And advertising company has its annual holiday party for employees and customers, a customer had too much to drink and was involved in an accident, the company was sued, will the company pay?

Answer 8

Yes, no exclusions apply

Question 9

The cancellation provision in a business owners policy specifies all of the following EXCEPT:

• insured’s cancellation requirements
• Insurance companies cancellation requirements
• Method of transferring owners rights
• method of refund of unearned premium

Answer 9

Method of transferring owners rights

Question 10

Protective safeguards endorsement allows how many hours to restore a system

Answer 10

48 hours

Question 11

Pollutant Clean up and removal coverage has a limit of:

Answer 11

$10,000 in any 12 month period

Question 12

To be eligible for a business owner’s policy an office building cannot be higher than how many stories

Answer 12

Six stories

Question 13

Limit of forgery and alteration coverage

Answer 13

2500

Question 14

The most and insurance will pay for a loss is

Answer 14

The limit of insurance after the deductible is paid

Question 15

The members of a limited liability company are insured under a business owners policy if:

• Each individual is listed as a named insured
• Single individual member of the limited liability company listed as a named insured
• members of the limited liability company cannot insured’s
• The limited liability company is designated as the named insured

Answer 15

-The limited liability company is designated as the named insured

Question 16

Well business income coverage cover a union strike of construction work out causing the insurance building to be delayed for a period of time?

Answer 16

No

Question 17

Examination of books and records condition allows the company to examine for What period of time

Answer 17

During the policy and up to three years after termination

Question 18

An endorsement added to a business owners policy that provides coverage for direct damage caused by utility service disruption is called

Answer 18

Utility services – direct damage