Inland/Ocean Marine
a statement used mainly to determine whether a particular coverage is marine insurance and restricted the underwriting powers of marine insurers.
What is a Nationwide Marine Definition
Coverage C
What is Medical Payments
the most the insurer will pay under Coverage A for damage to any one premises while rented to the named insured
What is Damage to Premises Rented to You Limit
A land motor vehicle, "trailer" or semitrailer designed for travel on public roads
What is an Auto
the 2 types of Inland Marine Classes
What are Filed and Non-filed Classes
also called transportation insurance
What is Transit
What is Premises and Operations and Products and Completed Operations
Insured's include executive officers, directors, and stockholders as insured's
What is an Organization
loss or damage to a covered auto by 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 is Specified Cause of Loss
payments made for a rental auto when an insured becomes contractually obligated to make such payments
What is Loss of Use Expenses
represents the largest class of commercial inland marine insurance
What is Contractor Equipment
provides no insurance for injury committed by an insureds whose business is in advertising, broadcasting, publishing, or telecasting, designing or determining the content of websites for others, or providing internet searches, access, content, or service
What is Insureds in Media and Internet-Type Business
the most the insurer will pay for the sum of damages under Coverage A
What is the General Aggregate
3 Commercial Auto Coverage Forms
What is Business Auto, Motor Carrier, and Auto Dealers Coverage Form
3 Types of Radius Class
What is Local, Intermediate, and Long Distance
covers the stock in trade of camera dealers or musical instrument
What is Camera and Musical Instrument Dealers
All expenses incurred by the insurer, Up to $250 for the cost of bail bonds, Court costs or other costs, and Interest on judgments awarded against the insured are examples of this
What are Supplementary Payments
When CGL has no other applicable insurance that meets any of the criteria
What is Primary
coverage is provided only for autos that are required by law to have uninsured motorists coverage
What is Symbol 6
Policy A has a $100,000 limit and Policy B has a $300,000 limit. The organization experienced an $80,000 covered loss. Under the other insurance provision how much will be contributed under Policy B?
What is $60,000
covers the cost of reasonable measures that the insured is required to take to protect property from damage at the time of loss.
What is Sue & Labor Clause
eliminates coverage for any loss, cost, or expense arising out of any request, demand, or order to test for, monitor, or clean up pollutants
What is Pollution Related Exclusion
generate higher premiums for policies written with coverage amounts greater than the basic limits
What is Increased Limit Factor
3 categories of Primary Rating Factors
What is Size Class, Business Use, and Radius Class
Business Auto Coverage Form with a $100,000 policy limit. In a claim that results in an $80,000 court award along with $50,000 for expenses due to defending the claim, what is the total amount that will be paid under the Business Auto Coverage Form
What is $130,000