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CPCU
Chapter 2 Quiz
| Question | Answer |
|---|---|
| What Triggers a Bodily Injury and/or Property Damage Claim: a)Date when defective Product was Created b)Date when the boldily injury and property damage occured c)Date when Claim was made | b)Date when the boldily injury and property damage occured |
| Under the Pollution Exclusion what would be the list of Exceptions (Per Instructor Big Question on National Exam) | 1)Bodily Injury and Property Damage Occured caused by smoke, fumes, vapors,soot 2)Bodily Injry & Property damage resulting from escape of fluids needed to perform normal functions c)Bodily Injury & Property Damage from Hostile Fire releasing pollutants |
| Employer's Liability Exclusion Name the Two: | 1)Dual Capacity Doctrine (Employee sues under the CGL instead of WC revoking rights of WC) 2)Third Party Exclusion: Insured Cont'd to sue that leads up to the Manufacturer |
| Define Host Liquor Liability Coverage | Companies that are not mainly based on Manufacturing and Liquor Sales. Example: Company Hosting a Banquet or Luncheon for Clients and Employees |
| What is Generally Excluded in Liquor Liability | 1)Selling Alcoholic Beverages to a Person under teh age of 21 2)Selling Alcoholic Beverages to a person already intoxicated 3)Through any Statute |
| Name the two General Exceptions of Contractual Liability (Coverage that was assumed under contract) | 1)Liability Portions that did not appear in the License Agreement, where the Claim Exceeds the Agreement 2)Liability Assumed within Contract. Contract has to be Performed Before the Occurence |
| Name the Types of Contracts (Under Contracual Liability) in the CGL: | * Sidetrack Agreement * Contract of Lease Agreement * Easement of License Agreement (X-fer of restricted zones to another party) * Obligation of Municipality * Elevator Maintanance Agreement * Tort Liability Contracts |
| Territories that Are Covered | U.A. and it's Territories: Canada and Puerto Rico. Not Mexico. |
| Are Animals Considered Bodily Injury or Property Damage | Property Damage, Sorry Fido |
| What Defines the Sidetrack Agreement | Work performed Incorrectly, if the Contractor needs to repair the damage |
| What are the 4 Parts of the Exclusion of Property Damage | * Damage to Insured's Own Property(Only Exception is if contents is rented to the name insured) * Coverage to Property Damage that has been sold or goven away * Property Damage in real property caused by sub and contractors and insured * Sidetrack |
| What are the two exclusions for "Damage Done to teh Insured's Work" | 1)When there is damage done to the insured's product itself (no coverage for insured's products) * When it's Work in Progress |
| Is Electronic Data Covered? | No.Because it's Intangible Property |
| Define "Impaired Property" | Tangible Property that cannot be used or less useful because it includes the product that is defective, Loss of Use would be an exception under this Exclusion |
| What is the Purpose of Exclusion of Bodily Injury under the Personal and Advertising Injury | To Eliminate Duplicate Coverage under Coverage A |
| Define the Exclusions that Do Not have Exceptions: | * Worker's Compensation * War * Personal and Advertising Injury * Electronic Data * Distribution of Material in Violation of Statutes |
| Define Fire Legal Liability: | Property that is rented to Insured at the time of Occurence. It only covers portion of the building that is rented to insured, not the whole building |
| Define Occurence | An Actual Single Event of a Bodily Injury or Property Damage Claim, but the total amounts by the end of the policy term cannot exceed the Aggregate |
| Define the Conditions where Coverage A under Occurence the Insurer would pay the Claim | * Damages has to be either Property Damage or Bodily Injury * Occurence within territory * Within Policy Period * Before Policy Period Began, Occurence must not have been known * Bodily Injury and Property Damage caused by Occurence |
| Define the Montrose Language: | In which is considered "Known Loss" because it is a progression of the loss to become an occurence |
| How Can an Exclusion Provide Coverage | Coverage Can be an exception of the exclusion * Through an Endorsement |
| Define "Amendment of Insured Contract" | Endorsement that modifies the defenition of coverage so it applies to the liability "whole or in part". Modifies the CGL |
| What is the Difference Between War Exclusion and Terrorism Endorsement | Terrorism Endorsement: is an optional coverage caused solely by a terrorist group or orginization, cannot be goverment even from a forgein country because that would be considered War Exclusion |
| If I Bought Pink Hair Dye to Dye my Hair Pink and my Hair Falls off even if I followed all isntructions in the Manual | Yes, under Products and Completed Operations. |
| What was the Whole Point of the fact that we cannot buy Chinese Wallpaper | Under the Pollution Exception of Coverage Harmful Chemicals was used to create the adhesive |
| What is the Exception for the Expected and Intended Injury Exclusion? | When the Insured uses reasonable intentional fprce to protect his property and himself |
| Exceptions of Watercraft Exdclusions: | * Watercraft of any size are covered wilst ashore * Non Owned Watercraft 26' and under is covered as long as not carrying ppl for fee * Parking auto on by premises owned by insured * Liability assumed under contract * |
| Is Uncontrollable Spam Covered | No.It is under the Violation of the Telephone Consumer Protection Act CAN-SPAM Act |
| What is the Difference Bewteen Mobile Equipment and Auto Motor Vehicles? | Mobile Equipment distinguishment applies if there is no licence required, stays on site and requires no registration. |
| What was the Whole Point of the Man that Worked for Coca-Cola Story, in what type of Claim would it apply? | Under the Employer's Liability Exclusion, it would be under the Dual-Capacity Doctrine. Then When the Plaintiff sues Coca Cola because the opener went to the eye for improper bottling that would be under Third-Party Over Action |
Created by:
rsls80
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