Chapter 9 Comerical General Liability Flashcards
What is section 1 of the cgl
The coverage section
What Is section II of the CGL?
Who is an insured
What is section III of the CGL?
Section III is the limits of insurance
What is section IV of the CGL?
Commerical general liability conditions
What Is section V of the CGL?
The definitions section
What does Section I coverage A of the CGL cover?
Bodily injury and property damage liability
What does Coverage B of Section I under a CGL cover?
Personal and advertising injury
What does coverage C of section I under a CGL policy cover ?
Medical payments
Supplementary payments apply to which coverages under section I of a cgl policy?
Coverage A BI&PD and B personal and advertising injury
When does the insurers duty end ? Under coverage A, B and C ?
When it’s used up the applicable limit of insurance in payment and judgment
What is the basic extended reporting period (BERP)
A reporting period provision in a claims made form that allows a loss to be reported after the policy term for a specific period of time after the policy expiration or cancelation date.
What is the Supplemental extended reporting period (SERP)
An optional reporting period coverage, premium is fully earned and non refundable. Has to be requested within 60 days of of the end of policy term.
Does the SERP use a retroactive date?
Yes
What’s section 1 of a CGL policy ?
The coverages section
What’s section II of a CGL. Policy
Who is insured section.
What’s Section III of the CGL policy?
Limits of insurance
What’s section IV of the CGL policy?
Comerical General liability conditions
What does coverage A of a CGL policy exclude?
Personal injury and advertising injury
What does coverage B of the CGL policy cover?
Personal injury and advertising injury
What does the pollution liability coverage form designated sites cover ?
Covers a leak from a waste disposal facility. Has its own limit of liability
What does the limited pollution liability coverage fork designated sires cover?
Covers leaks from a waste disposal facility, excludes cleanup costs
What does the pollution extension endorsement cover?
Covers bodily injury and property damage liability, excludes clean up costs
What does the SERP cover?
Claims arising from occurrences that take place after the retroactive date and before the end of picy term
What does the SERP cover?
Claims arising from occurrences that take place after the retroactive date and before the end of picy term
What is a retroactive date ?
A specified date in the declarations after which an occurrence must take place for coverage
