_________ insurance can help cover medical expenses and attorney fees resulting from bodily injuries and property damage for which your company may be legally responsible
General Liability
Someone drove a car through my retail store. Can you tell me what policy would pay to fix my building?
Commercial Property
The time period during which insurance coverage is in effect.
Policy Period
Party covered by an insurance policy.
Insured
_______ specializes in writing Umbrellas/Excess Casualty for Commercial insureds.
MEC (McGowan Excess & Casualty)
_____ policies offer coverage for:(a) your building (b) your business personal property (BPP) & (c) personal property of others that is in your care
Commercial Property
A customer slipped and fell while in the checkout line. What policy was made to cover this type of loss?
General Liability
An amendment to a policy adjusting the coverages and taking precedence over the general contract.
Endorsement
Two or more distinct policies combined into a single contract.
Package Policy
______ specializes in writing various Lines of Business for Public Entities.
MGU (McGowan Governmental Underwriters)
Errors & Omissions falls under the _________________ category.
Professional Liability
You are a lawyer. A client sues you saying that your poor legal advice caused major disarray in your life. Your E&O policy agrees to pay the full $1 million limit of the policy. The problem? You are being sued for $1.5 million, what policy would likely cover the additional $500,000?
Excess Liability
The maximum dollar amount or total amount of coverage payable for a single loss, or multiple losses, during a policy period, or on a single project.
Aggregate
A specified state or country as a permanent home. Where something is “based.”
Domiciled
_____ specializes in writing Property (including CAT Property), General Liability, Packages, Small Business, Professional Liability, Management Liability, and Crime/Employee Dishonesty for Commercial Insureds.
MW (McGowan Wholesale)
________ insurance sits in the background until the underlying policy’s limits have been exhausted. It will kick in once the underlying policy hits its coverage limits. It will cover all of the same things that underlying policy covers.
Excess Liability
You're a real estate agent. The state requires you to disclose if there has been a death in the home. You do not disclose this to your buyer. If you are sued, which policy would respond?
Errors & Omissions. (Will also accept Professional Liability)
A person who identifies, examines and classifies the degree of risk represented by a proposed insured in order to determine whether or not coverage should be provided and, if so, at what rate.
Underwriter
_______ an individual who sells, services, or negotiates insurance policies either on behalf of a company or independently.
Producer or Agent
_____ specializes in writing Professional Liability, Management Liability, and Crime/Employee Dishonesty for Commercial insureds.
MDO (McGowan, Donnelly, and Oberheu)
When policies do not cover the claim or scope of an incident, policyholders are often responsible for paying any remaining costs out of pocket. _________ insurance expands terms and provides broader coverage for losses not outlined in the underlying policy.
Umbrella Insurance
A man at University Community Hospital underwent surgery to remove his diseased right leg only to find the surgeon had removed the wrong leg.
Medical Professional Liability (will also accept Medical Malpractice)
Type of Coverage protecting the insured against the loss to real or personal property from damage caused by the peril of fire or lightning, including business interruption, loss of rents, etc.
Fire
Coverages which are generally written with property insurance, e.g., glass, tornado, windstorm and hail; sprinkler and water damage; explosion, riot, and civil commotion; growing crops; flood; rain; and damage from aircraft and vehicle, etc.
Allied Lines
_____ is an insurance consultant, risk management advisor, insurance brokerage, and program administrator. They specializes in writing various Lines of Business for risks in the Amusement, Sports & Entertainment industries.
MASI (McGowan Allied Specialty Insurance)