Business Classification
What is the NAICS code for a florist?
459310
What does workers comp cover?
Provides benefits to employees who suffer work-related injuries or illnesses.
What is a deductible?
Amount insured pays before coverage applies
What happens if a customer revokes TCPA?
If the customer revokes TCPA, ask "If for any reason this call gets disconnected, can we call you back? "
What endorsement should always be added to any auto service risk and what does it protect?
Garage keepers.
Provides coverage for customers' vehicles in the insured's care, custody or control.
What class code applies to a yoga studio?
611620
What is uninsured motorist and underinsured motorist coverage?
Uninsured: Provides coverage for injuries to you and your passengers in the event your vehicle is struck by another driver with no insurance
Underinsured: Provides coverage for injuries to you and your passengers in the event your vehicle is struck by another driver with insurance but not enough to pay for the injuries
What is the aggregate limit on an insurance policy?
The maximum amount which will be paid throughout the policy term for all bodily injury and property damage claims.
What is the Fraud statement for Texas?
Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or knowingly presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison
What is the difference between hired and non owned auto?
Hired auto provides liability coverage for vehicles you lease, hire, rent or borrow.
Non-owned provides liability coverage for vehicles you do not lease, hire, rent or borrow.
What kind of business delivers misc. goods for a fee and they do not own.
Haul for hire or general freight hauling
What is business personal property?
Which policy covers fire damage to a building?
Commercial Property
A customer calls in 30 days later to bind, name all statements you would read
-Conditional Quote Statement
-Have you or anyone insured under the policy experienced any accidents or other losses since you received the original quote?
-Fraud and Privacy statement
What does liquor liability cover?
Covers bodily injury or property damage caused by someone who was served alcohol by the insured.
Example: serving minors or over serving a customer
How would you class a business that offers bookkeeping, tax preparation, and financial consulting services for businesses and individuals
Accounting Firm
What does Professional liability cover?
Provides coverage for professional advice and services.
What coverage would a business need to protect the items they are hauling?
Cargo
What must you advise is not covered on property policies?
Flood damage
Give me an example of of what EPLI insurance would cover
failure to promote, wrongful termination or negligent hiring practices.
How would you class a business that delivers packaged food products that they own to grocery stores and restaurants
Food Distributor
What is the difference between Employers liability and EPLI
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.
Define Peril
Cause of loss
Example: Fire, theft, vandalism, act of nature
What is the first step you must do during the PA pre bind?
Notify your supe so they can listen live to the call.
Give me an example of a common endorsement on a BOP
Business income, Cyber, E&O