Exam 1 Part H

Question 1

Extra Expense Coverage Form

Answer 1

Provides payments to business that cannot afford to shut down

Question 2

What Type of Businesses Would Purchase Extra Expense Coverage?

Answer 2

"Service Oriented Business;
- Hospital
- Newspaper
- Insurance Agency
"

Question 3

Why Choose Monthly Limit Coverage Over Max Limit of Indemnity?

Answer 3

”- Budget

- Lower Premium”

Question 4

Endorsement For Dependent Property

Answer 4

Monthly

Question 5

Endorsement For Dependent Property

Answer 5

”- When insured is dependent on another firm

- Phsyical loss at the other location of another premises”

Question 6

Endorsement For Dependent Property Location Types

Answer 6

“1) Contributory

2) Manufactory Location
3) Leader Location”

Question 7

Contributory Location

Answer 7

Furnishes material or services to the insured

Question 8

Recipient Location

Answer 8

Purchase materials from insured

Question 9

Manufacturing Location

Answer 9

Makes products for delivery to the insured for customers

Question 10

Leader Location

Answer 10

Attracts customers to insured location