🏠 Module 2-Inside the Mind of an Underwriter Flashcards
Inside the Mind of an Underwriter
1
Q
CP 0010
A
ISO Commercial Property Form
- “Building & Business Personal Property Coverage Form”
- Specifies what PROPERTY is covered
2
Q
CP 1030
A
ISO Commercial Property Form
- “Causes Of Loss - Special Form”
- Specifies the PERILS for which the property is covered
3
Q
COPE
A
Construction | Occupancy | Protection | Exposure
Property characteristics used by an underwriter to determine pricing.
- Construction-based on six ISO construction codes
- Occupancy-based on combustibility determined by common and special hazards
- Protection-based on adequacy and efficiency of fire protection
- Exposure-based geography, environment and surrounding occupancies
4
Q
SWR
A
Semi-Wind Resistant
5
Q
WR
A
Wind Resistant
6
Q
ISO 1
A
(F) Frame construction
- Wood or mostly wood construction
- Masonry and/or metal-clad exterior does NOT change class
7
Q
ISO 2
A
(JM) Joisted masonry construction
- Masonry or fire-resistive exterior walls with a minimum fire rating of 1 hour
- Combustible floors and roof
8
Q
ISO 3
A
(NC) Non-combustible construction
- Non-combustible or slow-burning walls, floors, and roof
9
Q
ISO 4
A
(MNC) Masonry non-combustible construction
- Masonry or fire-resistive walls
- Non-combustible or slow-burning floors and roof
- Semi-wind resistant
10
Q
ISO 5
A
(MFR or SFR) Modified fire resistive or semi-fire resistive construction with fire rating of two hours or less
- Masonry or protected load bearing walls & roof
- Exposed steel is fireproofed
11
Q
ISO 6
A
(FR) Fire-resistive construction
- Masonry or protected load bearing walls & roof with a minimum fire rating of two hours
- Exposed steel fireproofed to meet 2-hour minimum
12
Q
NB
A
National Board of Fire Safety
13
Q
Fuel Load
A
The quantity and combustibility of contents inside of a building
14
Q
NB 1-4
A
Most desirable ISO fire protection class
- Full-time, paid firefighters
- Good public water supply
- Sophisticated fire fighting equipment
- Quick response time
15
Q
NB 5-6
A
Somewhat desirable ISO fire protection class
- Full-time, paid firefighters
- Adequate public water supply
- Good fire fighting equipment
- Longer response time
