This subsection lists the characteristics of good management.
What is Management
100
Exterior walls are wood, stucco on wood, or other combustible materials, or metal on wood, and the floors and roof are wood or steel frame.
What is Frame Construction
100
This liability covers slips, trips and falls to third parties.
What is Premises Liability
100
State Farm recommends that every customer select a coverage amount that is at least equal to what percentage of the estimated replacement cost of their commercial building?
What is 100%
100
In order to bind an application this is required.
What is a full payment of the annual premium.
200
This subsection includes coastal eligibility rules now based upon Hurricane Wind Risk Values and/or Storm Surge Risk Values.
What is Coastal Consistency
200
Exterior walls are of masonry material such as adobe, brick, concrete, hollow concrete block, stone or similar materials, and the floors and roof are of combustible material.
What is Masonry Construction
200
This coverage applies to liability that the insured assumes from others, unless limited by endorsement.
What is Contractual Liability
200
This estimating tool is provided to help agents work with customers to estimate the replacement cost of commercial buildings.
What is Xactware.
200
If the risk fails to meet all requirements, coverage may not be bound, but a this item may be submitted for consideration.
What is a non-binding application
300
This subsection explains the importance of evaluating the management, scope of operations, and condition of property for all risks.
What is General Principles
300
These plans have been established in many states where there is difficulty in obtaining insurance protection.
What is FAIR Plans (Fair Access to Insurance Requirements)
300
This coverage is commonly written for risks that have temporary custody of vehicles belonging to customers or clients.
What is Garagekeeper's Insurance
300
This coverage must be written with all new business whenever possible per company policy.
What is Inflation Coverage
300
Tornados, Heavy Rains and Volcanic Eruption are all examples of what?
What is Imminent Danger
400
This subsection includes philosophy and other information pertaining to insurance to value, coverage amounts, and estimating replacement costs.
What is Insurance to Value/Inflation Coverage
400
All risks should have an adequate number of these properly maintained devices per local code.
What is a Fire Extinguishers
400
Stat Class 614 may need this particular liability coverage.
What are the three basic methods used to estimate the replacement cost of a building.
400
Coverage is not to be bound without prior authorization, regardless of the amount of coverage being requested for this type of application.
What is Government Entities
500
Loss of Income and Extra Expense is provided on an actual loss sustained (up to 12 months) basis.
What is Business Interruption
500
A Builder's Risk policy will not be issued on a building when the construction has not yet reached the erection of the walls. (True or False)
What is False
500
In the state of Georgia, this liability applies to the religious organization risk type only.
What is Directors and Officers Liability
500
After the estimate is ready, it is this persons responsibility to choose the coverage amount.
What is the customer
500
We do not bind all risks that have been refused insurance or terminated by another company, including State Farm. (True or False)
What is False. As an exception, you may bind coverage if all of the following conditions apply:
1.The applicant provides a copy of the letter from the prior carrier.
2.The letter contains the reason for termination.
3.The applicant meets State Farm's current underwriting guidelines.