Study guides, Class notes & Summaries

Commercial Casualty II – CISR Exam Questions and Answers 100% Pass In BAP what does liability section provide protection from claims for? - Correct Answer ️️ -Bodily Injury and Property Damage for which insured is legally responsible for. In BAP physical damage section what type of protection? - Correct Answer ️️ - provides coverage for damage to or loss of an insured's covered auto. What other BAP coverages can be added by endorsement? - Correct Answer ️️ - Medical payment...

CIC - Commercial Casualty Institute Exam Questions and Answers 100% Correct Identify the Specific Rights & Responsibilities of the First Named Insured (Objective #1) - Correct Answer ️️ -1- Cancel Policy 2- Receive Notice of Cancellation 3- Make Changes to Policy (with Insurer Consent) 4- Payment of Premiums 5- Payee for Returned Premium Compare and Contrast the Occurrence Form with the Claims Made Form, as to what activates coverage (Learning Objective #2) - Correct Answer ️️ -...

CIC Commercial Property Exam Prep Questions and Answers 100% Pass Endorsements used to modify coverage extensions (6) - Correct Answer ️️ -1. newly acquired or constructed property - increased limit 2. higher limits 3. specified bpp temporarily away from premises 4. additional covered property 5. radio or television antennas 6. trees, shrubs, plants Explain replacement cost - Correct Answer ️️ -- without deduction for depreciation - claims are paid on acv until repairs or repla...

CISR Property Exam Questions and Answers 100% Pass real property - Correct Answer ️️ -comprised of buildings, structures, and fixtures that are tangible, can be seen Land - Correct Answer ️️ -real property, but is generally not the subject of insurance buildings - Correct Answer ️️ -real property, have walls and a roof structures - Correct Answer ️️ -any construction, including buildings examples of structures that are not buildings - Correct Answer ️️ -three-sided lum...

CISR Commercial Casualty I Lesson 1 L Exam Questions and Answers 100% Pass Legal Liability - Correct Answer ️️ -A responsibility or obligation to others, which courts recognize and enforce. In general failure to meet this duty often results in the imposition of monetary damages. 3 Types of Legal Liability - Correct Answer ️️ -Tort Liability, Statutory Liability, Contractual Liability 4 Types of Tort Liability - Correct Answer ️️ -Negligence, Intentional Torts, Strict Liabilit...

CISR Commercial Casualty I Lesson 1 L Questions and Answers 100% Pass Legal Liability - Correct Answer ️️ -A responsibility or obligation to others, which courts recognize and enforce. In general failure to meet this duty often results in the imposition of monetary damages. 3 Types of Legal Liability - Correct Answer ️️ -Tort Liability, Statutory Liability, Contractual Liability 4 Types of Tort Liability - Correct Answer ️️ -Negligence, Intentional Torts, Strict Liability, Ab...

In BAP what does liability section provide protection from claims for? - Bodily Injury and Property Damage for which insured is legally responsible for. In BAP physical damage section what type of protection? - provides coverage for damage to or loss of an insured's covered auto. What other BAP coverages can be added by endorsement? - Medical payments personal injury protection uninsured/underinsured motorist bodily injury and/or property damage losses

Employee—Advantages of WC - • Defined benefits if injured on the job • Benefits regardless of negligence • Some benefits last a lifetime Employer—Advantages of WC - • No lawsuits from injured employees. • Cost of insurance is predictable. • Tangible benefit to employees. Funding Workers Compensation Benefits - • Purchasing a policy from a private insurance company (most common). • Purchasing coverage from a competitive state fund. • Allowing employers, or groups of...

What were the 3 Common Law Defenses? assumption of risk; contributory negligence; fellow servant (employee) rule What state was the first to have Workers Comp laws? Wisconsin Workers Compensation is a _ _ system. No Fault Which 2 states do not have mandatory Workers Compensation? New Jersey & Texas What are the advantages of Workers Comp for the employee? defined benefits; benefits regardless of negligence; some benefits that last a lifetime What are the advantages of Workers Comp for ...

State workers compensation laws are no-fault systems. T/F - True Employer purchase of workers compensation insurance is voluntary in all state but Texas and New Jersey. T/F - False; With the exception of Texas and new Jersey, all states have made employer purchase of workers compensation insurance mandatory. One advantage of workers compensation to employers is predictable costs. T/F - True