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ARE PPP - Contracts

Contracts & Insurance

QuestionAnswer
What is true regarding insurance brokers? Able to prepare an architect's insurance application, can represent the architect in disputes with the insurer, are able to send claim notices to the insurer on behalf of the architect, and may have undisclosed incentives for certain insurance providers
LOL stands for? Limitation of Liability
What is true in regards to project insurance? Rates are guaranteed, costs are easily identifiable, and the entire design team's negligence is covered
What is covered under worker's compensation insurance? Loss of wages, medical expenses, death benefits
What is a claims-made policy? Policy must be in effect both when a claim is made and when the occurrence happened
In what organizational structure are personal assets unreachable to satisfy bona fide business debt? Corporation
What is vicarious liability? The legal responsibility of one party for the acts of another party
Created by: skburger