Unit 15: Commercial Liability Insurance Flashcards
1
Q
Types of Risk Exposures
A
- premises - operations
- products - completed operations
- fire legal
- contractual liability
- independent contractors
2
Q
Premises and Operations
A
- location and activities
- on and off premise
3
Q
Products Claim
A
- away from premise
- exception: spoiled food
4
Q
Fire Legal Liability
A
- rentals covered from fire
- tenant held liable
5
Q
Independent Contractor Liability
A
owners and contractors protective
6
Q
Contractual Liability - LEASE
A
- lease of a premises
- easement agreement
- agreement to indemnify a municipality
- sidetrack agreement with a railroad
- elevator maintenance agreement
7
Q
Coverage A - Bodily Injury and Property Damage
A
Must be caused by an occurrence
8
Q
Coverage A Exclusions pt 1
A
- intentional injury
- contractual liability (except for LEASE)
- liquor liability
- employee work-related injuries (covered under workers’ compensation)
- pollution liability (bodily injury, property damage, or clean-up costs)
9
Q
Coverage A Exclusions pt 2
A
- aircraft, autos, or watercraft liability (except as specified in policy)
- transportation of mobile equipment by auto or the use of mobile equipment in any prearranged racing activity
- owned or rented property in the insured’s care, custody, or control (except for fire legal liability)
- product recall
10
Q
Exclusions pt 2
A
- aircraft, autos, or watercraft liability (except as specified in policy)
- transportation of mobile equipment by auto or the use of mobile equipment in any prearranged racing activity
- owned or rented property in the insured’s care, custody, or control (except for fire legal liability)
- product recall
11
Q
Coverage B - Personal and Advertising Injury
A
- offenses: libel and slander
- individual or entire business
12
Q
Coverage B Exclusions
A
- knowingly inflicting injury that violates the rights of another
- oral or written publication of material that the insured knows is false, but publishes anyway
- materical that was published before the effective date of the policy
- any offense committed by an insured who is involved in the business of advertising, publishing, broadcasting, telecasting, or designing or determining content of websites for others
- infringement of copyright, patent, trademark, trade secret, or other intellectual property rights
13
Q
Supplementary Payments (BAILED)
A
- bail bonds to $250 for the cost of
- aid - fist aid expenses
- interest on judgments in appeal
- loss of earning up to @250 per day
- expenses incurred by the insured to assist in the defense of a claim
- defense costs
14
Q
Coverage C - Medical payments to Others
A
- without regard to fault
- must be reported within one year of accident
15
Q
Coverage C Exclusions
A
- to any insured or to a tenant or employee of the insured
- payable under workers’ compensation or related laws
