Liability loss exposures, property loss exposures and personal loss exposures.
What are the three basic catagories of commercial auto loss exposures.
100
Mechanism used to indicate the autos to which each coverage applies.
What are coverage symbols?
100
If an insurer revises a business auto coverage form to provide more coverage at no increase in premium, coverage is provided automatically as of the date the revision becomes effective.
What is liberalization?
100
Workers compensation; care, custody or control; pollution, war and racing.
What is exclusions of a business auto policy?
200
Insuring loss to customers' autos while they are in the custody of the insured.
What is garagekeepers coverage?
200
Insures damage to a covered auto by any peril except collision or overturn or a peril specifically excluded.
What is comprehensive coverage?
200
Any organization other than auto or trailer dealers or motor carriers (businesses that transport the property of others).
What are types of insureds eligible for business auto coverage.
200
If an insurer pays a loss, it is entitled to take over the insured's right of recovery from the other party.
What is transfer of rights against others?
200
Medical and rehabilitation expenses, income loss benefit, substitute services benefit and death benefits to survivors.
What are benefits provided by a PIP endorsement?
300
Auto medical payments, personal injury protection (PIP) and uninsured motorists coverage.
What are personal loss exposures arising from auto accidents?
300
The lessor of actual cash value at the time of loss or cost to repair or replace with like kind or quality.
What is the most an insurer will pay for a physical damage loss?
300
Newly acquired autos are covered from the time of acquisition only if the insurer covers all owned autos or replaces a covered auto and the insured asks insurer to cover the newly acquired auto within thirty days.
What is the coverage for newly acquired autos with symbol 7?
300
A material fact that would have changed the underwriting decision in some way.
What is misrepresentation?
300
Duty to pay damages, duty to pay "covered pollution cost or expense" and duty to defend.
What are the three distinct duties of an insurer?
400
Employer's liability for its employees' operation of their autos in the employer's business.
What is employers nonownership liability?
400
Fire, lightning, explosion, theft, windstorm, hail, earthquake, flood, mischief, vandalism or loss resulting from the sinking, burning, collision, or derailment of a conveyance transporting the covered auto.
What are specified causes of loss?
400
Mobile equipment subject to compulsory or financial responsibility or other motor vehicle insurance law.
What is symbol 19?
400
Size, class, business use and radius.
What are components of the primary factor for rating business auto coverage?
500
Add coverages, designate additional insureds, add or omit exclusions and bring standard coverage forms into conformity with state insurance regulations.
What are endorsements to a business auto policy?
500
Tapes, records, discs, radar detectors and permanently installed equipment that reproduces, receives or transmits audio, visual, or data signals.
What is electronic equipment excluded from a business auto policy?
500
Commercial auto declarations, commercial auto coverage form and endorsements.
What are the components of a commercial auto coverage policy?
500
Preserve the insurer's right of subrogation against the transporting company by stating the insurer does not recognize any assignment of coverage or any other grant of coverage to any person or organization that holds, stores or transports property for a fee.
What is the No Benefit to Bailee condition?
500
Give prompt notice, assist insurer in obtaining information, cooperate with the insurer in investigation and defense of the loss, immediately send any legal papers to insurer, submit to physical examinations needed and authorize insurer to obtain medical information.