Introduction to Property-Casualty Insurance 8

Question 1

Personal property that is usually contained in a building or other structure.

Answer 1

Contents

Question 2

A commercial property coverage form that can be used to cover buildings, “your business personal property”, and personal property of others.

Answer 2

Building and Personal Property Coverage Form (BPP)

Question 3

Any personal property affixed to real property in such a way as to become part of the real property.

Answer 3

Fixture

Question 4

The part temporarily possessing the personal property in bailment.

Answer 4

Bailee

Question 5

Insurance that covers many different classes of property that typically involve an element of transportation.

Answer 5

Inland Marine Insurance

Question 6

Expenses, in addition to ordinary expenses, that an organization incurs to mitigate the effects of a business interruption.

Answer 6

Extra Expenses

Question 7

Insurance that covers the reduction in an organization’s income when operations are interrupted by damage to property caused by a covered peril.

Answer 7

Business Income Insurance

Question 8

Insurance coverage for extra expenses incurred by the named insured to avoid or minimize the suspension of operations resulting from direct damage caused by a covered cause of loss.

Answer 8

Extra Expense Coverage