Commercial Package Quiz Flashcards
How do you know if a line of business applies in a commercial package policy
premium next to line on the dec pages
Who has the responsibility and authority to cancel a policy and make changes in the Commercial Policy Conditions?
First Named Insured
In Commercial Property, property that is used to maintain or service the premises is considered under what coverage?
building
Aggregate Limit is the most that will be paid out
in any policy period
Claims-Made General Liability policy does not apply to BI or PD damage that occurs when?
Before the retroactive date
Cargo form that covers for 1 shipment
trip transit
Amount for All Signs on the Commercial Property Policy?
$2,500
Commercial Property Vacancy Clause - % rented and/or used to not be vacant
at least 31%
Business Income Coverage applies after what waiting period?
72 hours
Commercial Property Coverage Option that suspends coinsurance?
Agreed Value
If the first report of a Value reporting form is not made, the max amount of the loss that gets paid?
75%
Equipment Breakdown Automatic Coverage for Ammonia Contaminations, Consequential Loss, Data & Media, Hazardous Substance and Water Damage has what limit
$25,000
Coverage D of Farm Coverage Form
loss of use
Drowning is not a covered loss if the swine is less than how old?
under 30 days
How many days must a structure be unoccupied or vacant in the Farm Form to reduce coverage?
120 consecutive days
