General Liability / BOP
What does General Liability insurance primarily cover?
Bodily injury and property damage to third parties
True or False: Professional Liability covers bodily injury
False
What is the main purpose of an Umbrella policy?
Provide excess liability coverage
What is workers compensation?
Provides benefits to employees who suffer work-related injuries or illnesses.
What does Commercial Auto insurance cover?
Vehicles used for business purposes
True or False: BOP automatically includes Business Income coverage
True
What is another name for Professional Liability insurance?
Errors and Omissions or E&O
True or False: Umbrella policies can drop down to cover gaps
True
What is the difference between EPLI and employers' liability?
EPLI protects the business from claims of wrongful termination, discrimination, harassment, etc.
Employers' liability is part of workers comp and it covers lawsuits by employees for work related injuries.
True or False: A personal auto policy always covers business use
False
A customer sues for slander. Which coverage applies?
Personal & Advertising Injury
hat does Cyber Liability insurance primarily protect against?
Data breaches and cyberattacks.
True or False: Contractors Equipment coverage only applies when equipment is stored at the contractor’s main office.
False – it covers equipment at job sites and in transit.
Name the Monopolistic states
Ohio, North Dakota, Washington, Wyoming
Employee uses personal car for deliveries. Which coverage applies?
Non-Owned Auto Liability
What is the 'Products-Completed Operations?
Liability for injury or damage caused by products sold or work completed after delivery
Give an example of a profession that commonly needs this coverage.
Consultants, accountants, architects, insurance agents/agencies, beauticians/ barbers
What is the max amount of coverage a policy will cover per tool in order to not be scheduled?
$2500
Name one factor that affects Workers Comp premiums
Payroll
Who needs to be listed on a business auto policy?
Anyone who drives the vehicles or has access to it regardless of how little they may drive it.
A business advertises that a competitor’s product is unsafe, and the competitor sues for damages. Which part of General Liability responds?
Personal and Advertising Injury.
What is a 1st party data breach vs a 3rd party data breach?
First party- Involves the insureds or data or systems. 3rd party- a breach involving data the insured holds on behalf of others
Name one common peril covered under Contractors Equipment coverage.
Theft, fire, vandalism, or collision during transit.
True or False: Workers’ Compensation benefits are paid regardless of who caused the injury.
True (it’s a no-fault system).
An employee rents a car for a business trip and causes an accident. Which coverage applies?
Hired Auto Liability