SYMBOLS
What symbol indicates Uninsured Motorist coverage on a BAP?
WHAT IS SYMBOL 3
This endorsement expands pollution coverage when it is added to the CGL insurance policy.
WHAT IS THE LIMITED POLLUTION LIABILITY EXTENSION ENDORESEMTN
A CLUP does not provide excess coverage over and above the limits for what type of insurance policy?
What is Inland marine
TRUE OR FALSE An employee must be able to show that his injury resulted in a wage loss for it to be covered under his employers workers compensation policy.
WHAT IS FALSE
A nonowned auto under a PAP is defined as what?
What is a vehicle the insured uses but does not own
Which symbol indicates collision coverage on a BAP
WHAT IS SYMBOL 7
This endorsement on a BAP will cover an individual without a personal car
WHAT IS Drive Other Car – Broadened Coverage for named individuals
This term is used when referring to the subject that is being insured under the insurance policy
This act protects privacy of information relevant to insurance transactions
McCarren-Ferguson Act
How long must an insurer not renewing a PAP give the insured
What is 20 Days
This symbol has the broadest liability coverage
Symbol 1
Which type of endorsement provides coverage for direct damage to the insured's property resulting from an interruption in the utility services and no coverage for electronic data
Utility Services-Direct Damage
Surety bonds have a surety guarantee that one party will fulfill a specific obligation to a second party. What is the second party called?
Obligee
True or False- contractual liability is included in the BAP policy
FALSE
What are the 3 parts of a PAP Policy
Declarations
Personal Auto Coverage
Selected Endorsements
Which symbol indicates Hired Auto Only
Symbol 8
This endorsement can be added for auto dealers to protect themselves from persons acting under false pretenses.
False Pretense Coverage
The residual market is a source of coverage for what types of insurance lines?
Worker’s compensation, property insurance, and PAP
The insured in the garage policy is defined as the named insured, anyone liable for the insured's conduct, employees for the operation, and which other type of person?
By dividing this and this insurance can determine their loss ratio
Incurred losses by its earned premiums.
Symbol 2 is used to indicate which type of coverage
Owned Autos Only
Although the policy excludes liability for defective products, this endorsement can be added to provide this coverage and is subject to a $250 deductible for any one accident
Broad Form Products Coverage
True or False- Lightening is commonly excluded from property insurance that covers buildings and contents.
What is False
What does the experience modifier of 1.0 indicate in calculating a Workers compensation premium?
Average loss experience
What are the 4 parts of the Personal Auto Coverage under a PAP and what do they cover?
Part A- Liability
Part B-Medical Payments
Part C-Uninsured Motorist
Part D-Physical Damage