🤾‍♂️ Module 7-Intro to Casualty

Question 1

BI

Answer 1

Bodily Injury

Question 2

PD

Answer 2

Property Damage

Question 3

AI

Answer 3

Advertising Injury

Question 4

PI

Answer 4

Personal Injury

Question 5

CCC

Answer 5

Care, Custody or Control

Question 6

HH

Answer 6

Hold Harmless

Question 7

Legally Obligated

Answer 7

A civil or criminal adjudication that requires payment

Question 8

Negligent

Answer 8

Failure to exercise a degree of care as related to specific circumstances

Question 9

CGL

Answer 9

Commercial General Liability
* 3rd party coverage
* Pays for damages resulting from BI or PD
* Insured legally obligated to pay due to their negligence

Question 10

CG 0001

Answer 10

Commercial General Liability Coverage Form
* “Occurrence Form”
* Coverage is “triggered” by the actual date of the occurrence, regardless of when it is reported
* The policy that is in force at the time of the date of occurrence responds to the claim

Question 11

3 Main Contracts of CG 0001 Form

Answer 11

• Coverage A - BI & PD
• Coverage B - PI & AI
• Coverage C - Med Pay

Question 12

14 Coverage Parts of the CGL Policy

Answer 12

• Prem/Ops
• Prod/Comp
• Contractual
• PI/AI
• Med Pay
• Host Liquor
• Fire
• Broad Form Property
• Incidental Med. Mal.
• Watercraft
• Limited Worldwide
• Extended BI
• Newly Acquired Orgs
• Additional Persons

Question 13

Prem/Ops

Answer 13

Premises/Operations

Covers BI/PD arising from ownership, maintenance or use of a premises or the operations of a business

Question 14

Prod/Comp (or (P/CO)

Answer 14

Products/Completed Operations

Covers BI/PD arising from real or alleged defects in:
* A manufactured, sold or distributed product
* Completed work

Question 15

Contractual

Answer 15

Contractual Liability

Covers liabiliity assumed under or resulting from a contract

Does NOT cover breach of contract

Question 16

PI/AI
(Eight reasons)

Answer 16

Personal Injury & Advertising Injury

Covers liabililty resulting from:
* False arrest, detention or imprisonment
* Malicious prosecution
* Libel
* Slander
* Wrongful eviction
* Invasion of the right of private occupancy
* Piracy
* Unfair competition

Question 17

Med Pay

Answer 17

Medical Payments
* Only coverage that doesn’t require proof of legal liability or negligence
* Covers medical bills for injury at insured’s premises

Question 18

Host Liquor

Answer 18

Host Liquor Liability

Covers liability for serving liquor to clients or employees at a company function

• Insured can NOT be engaged in manufacturing, distributing or selling alcohol
• Insured cannot serve minors or obviously intoxicated people

Question 19

Fire

Answer 19

Fire Legal Liability or Damage to Premises Rented to You

Covers tenant of commercial building who is contractually responsible for all or part of the building in their CCC

Question 20

Broad Form Property

Answer 20

Broad Form Property Damage

• Covers property that is under the insured’s CCC
• Typically includes insured who performs work or services

Question 21

Incidental Med Mal

Answer 21

Incidental Medical Malpractice

• Also called “Good Samaritan”
• Coverage arising from rendering or failing to render medical attention

Question 22

Watercraft

Answer 22

Non-Owned Watercraft

Coverage arising from use of watercraft less than 26 ft long that is NOT being used to carry people or property for a fee

Question 23

Extended BI

Answer 23

Extended Bodily Injury

Covers intentional acts that:
* Are performed to protect people or property
* Result from the use of reasonable force

Question 24

Newly Acquired Orgs

Answer 24

Provides coverage for up to 90 days for acquired organizations

Question 25

Additional Persons

Answer 25

Provides coverage as insured:
* Any spouse of a partner concerning business activities
* Any employee of an insured while acting within the scope of his/her duties

Does NOT cover employee acts toward other employee during course of employment

Question 26

Endorsement

Answer 26

Adding or deleting coverage

Question 27

3 Types of Hold Harmless Agreements

Answer 27

• Limited Form
• Intermediate Form
• Broad Form

Question 28

Hold Harmless Limited Form

Answer 28

Indemnitor agrees to hold harmless the indemnitee for indemnitor’s sole negligence

(Example: Roofing contractor agrees not to sue general contractor when roofing contractor drops bundle of shingles on someone’s head due to roofing contractor’s negligence)

Question 29

Hold Harmless Intermediate Form

Answer 29

Indemnitor agrees to hold harmless indemnitee for joint neglegence of both indemnitor and indemnitee.

(Example: General contractor agrees to secure site. Roofing contractor drops bundle of shingles on someone’s head. Injury is based on both parties negligence, but roofing contractor is still liable for entire claim)

Question 30

Hold Harmless Broad Form

Answer 30

Indemnitor agrees to hold harmless indemnitee for indemnitee’s sole negligence

Not legally enforcable in several states (MO is one of them)

(Example: Roofing contractor agrees not to sue general contractor for any damages even if the damages are caoused by the general contractor.)

Question 31

Coverage Gap

Answer 31

Missing or insufficient coverage in a policy

Question 32

Casualty

Answer 32

Damage, injury or death as a result of an accident

Question 33

Dec or Dec Page

Answer 33

Declarations Page(s)
Pages of a policy that contain basic information regarding who/what is insured and policy information

Question 34

Exposure

Answer 34

Rating basis or outstanding risk on uncovered perils