Exam 3 Part 3 Flashcards
1
Q
Money Valuation
A
Money Is valued at face value
2
Q
Securities Valuation
A
Securities are valued as of close of business the day it is discovered
3
Q
Property (Other than money and securities)
A
- Pay replacement cost of property
- Repair or replaces the property
- Actual Cash Value
4
Q
Equipment Breakdown Coverage
A
- Covers losses due to accidental breakdown of most equipment
- Previous Equipment Breakdown is covered under the BPP
- “Boiler and Machinery Coverage”
5
Q
Boiler and Machinery Coverage
A
- Steam boilers
- Electrical generators
- Pumps
- Turbines
- Engines
- Air Conditioning
- Refrigeration Systems
6
Q
What does BPP exclude?
A
- Electrical Break Down
- Mechanical Break Down
- Steam Boiler Explosion
