Insurance Flashcards
1
Q
What does the certificate of liability insurance contain?
A
- Company name
- PPO license #
- Insurance policy #
- Dates of coverage
2
Q
What is the minimum coverage limit for commercial general liability insurance for a PPO to authorize guards to be armed with firearms?
A
$1 million for any one loss or occurrence due to bodily injury, including death or property damage, or both.
3
Q
What number of employees in a business requires workers compensation insurance to be in place?
A
One employee or more
4
Q
What is the penalty for failing to have workers compensation insurance in place in a business?
A
Misdemeanor conviction, up to one year in jail, or double the amount of premium, no less than $10,000 fine and/or both the fine and jail.
