CGL Stories
While Ayden the bicycle tech test rides a customer's bike through the Angry Catfish, he runs into Abi, a customer who just wanted coffee. What are the damages that Abi could sue for?
What is Bodily Injury?
An insurer not authorized by the state insurance department to do business within that state.
What is a Nonadmitted Insurer?
Dane's first hint to buy general liability insurance was when his old movie screen fell onto Nathan's Ford Bronco during a screening of Megamind. Which type of damage is Dane liable for?
What is Property Damage Liability?
Haven owns a dog spa. One day, a dog bites one of the employees. Before consulting the broker, she goes to make a claim under her CGL. What insurance product is better suited for injury to employees?
What is Workers Compensation?
A risk characterized by unfavorable attributes that have made it unacceptable to admitted insurers.
What is a Distressed Risk?
After this unfortunate incident, Dane goes to buy a CGL policy through his trusty broker, who advises him to use which type of premium base that is good for events in order to determine premium?
What is admission, or per car, or per member, or per ticket
The role of this is to pay small bodily injury claims without having to establish liability, perhaps reducing the likelihood that an accident victim will sue the insured.
What is Coverage C - Medical payments?
A list of coverages or classes of business that can be “exported” (written in the surplus lines market) without fulfilling the diligent search requirement.
What is an Export List?
The underwriter who is thinking of writing this exposure notices that Dane's Drive In is located next to a known pit of quicksand, and is concerned about cars (and people) getting stuck during the movie. What statement can the underwriter require that says the quicksand pit has been removed that will allow the policy to be issued?
What is a Warranty?
Matt's new venture is an axe throwing venue. The exposure of axes flying the air is considered this type of hazard.
What is special hazard of the risk?
A risk that requires high limits of insurance that may exceed the underwriting criteria of admitted insurers.
After being bound, it has been discovered that Dane has been pirating his collection of movies and screening them without permission. When Dane is inevitably sued, which potential damage would it be for that is covered under Section B - Personal/Advertising Injury?
"Slip and Fall Saif" decides to try and pull a fast one inside of a restaurant. Which type of risk management implementations would make a slip more improbable?
What is a wet floor sign, carpet flooring, handrails, requiring certain types of shoes
Surplus lines insurers have freedom from __ and __ filing regulations
What is form and rate?
Suppose that instead of using the recommended premium base, Dane decides to use gross sales. For one screening in the calculation he waives the $200 in service fees, selling a total of $1,000 + $150 in taxes. What amount should he report for the gross sales calculation?
What is $1,200?