Property Coverages
This type of coverage is needed when an insured owns the building their business operates out of.
What is Building Coverage?
These two natural perils are not automatically covered and require an endorsement.
What are Earthquake and Flood?
Each class code on a GL policy must be tied to one of these.
What is a location?
These are the most common GL losses.
What are Slip and Fall losses?
This type of liability covers items such as data breach and cyber extortion.
What is Cyber Liability?
These outdoor items, like lights, flagpoles, and signs, are included in building coverage.
What are outdoor fixtures?
This type of policy covers liability only.
What is an Umbrella policy?
These two types of policies are audited each year.
What are GL and Worker’s Comp policies?
This coverage protects against liability arising from owning or occupying real property.
What is Premises Liability?
This coverage addresses wrongful acts arising from employment processes.
What is EPLI (Employment Practices Liability Insurance)?
To avoid coinsurance penalties, the BPP limit must be at least this percentage of the replacement cost.
What is 80%?
This is the term for a specific type of incident that triggers coverage under a liability policy
What is an occurrence?
This system is used for storing documents and correspondence related to an account.
What is SentryDocs?
This type of coverage specifically addresses faulty work.
What is Products & Completed Operations?
These are based on the past 3 years of loss history, excluding the current year.
What are Experience Mods?
This type of insurance pays for normal operating expenses and profits if a covered loss shuts down a business.
What is Business Interruption Insurance?
This type of coverage handles items in multiple categories, such as Tools, Contractor’s Equipment, and Installation
What is Inland Marine?
New submissions are input through this system.
What is PolicyCenter?
This limit is the most that will be paid out for any one incident.
What is the Each Occurrence limit?
This is the general term for property that is not permanently attached to a building.
What is Business Personal Property (BPP)?
This property includes office supplies, inventory, machines, and equipment not considered PAE.
What is Business Personal Property (BPP)?
Umbrella coverage can be extended to cover this type of non-Sentry policy.
What is a Worker’s Compensation policy?
A single location can have more than one of these.
What is a class code?
What are buildings?
This coverage protects against liability arising from owning or occupying real property.
What is Premises Liability?
This type of land cannot be covered under a property policy.
What is vacant land?