GL Coverages
What is another way to think of a GL policy?
A slip and fall policy
What are the 2 most common Workers’ Compensation class codes?
8810, 8809
What is the most common form for certificates?
Acord 25
What does COI stand for?
Certificate of Insurance
What is a deductible?
The amount the insured must pay out of pocket before insurance coverage applies.
Are GL policies mainly written on an occurrence basis or claims basis?
Occurrence basis
Where do employers have to purchase their Workers’ Compensation policies from in monopolistic states?
Directly from the state
What is form is also called the common application?
Acord 125
What does SOV stand for?
Statement of Values
What are the two types of proposals we create at Hig?
Select & Full Proposals
How many limits are typically found in a GL policy?
6
What is the limit for Bodily Injury by Accident – Each Accident?
$1,000,000
What coverage is detailed under the Acord 130?
Workers’ Compensation
What does ACV stand for?
Actual Cash Value
What are the 3 different ways an account can be billed?
AB, DB, PFAs
What falls under Coverage C?
Medical Expenses
What are 2 of the types of benefits employees can receive?
Medical Expenses, Disability Income, Rehabilitation Costs, and Death Benefits
What coverage is detailed under the Acord 126?
General Liability
What does E&O stand for?
Errors & Omissions
What are the auto symbols for Hired & Non-Owned Autos?
Symbol 8 & 9
Name 4 typical limits you have on a GL policy.
General Aggregate, Each Occurrence, Products/Completed Operations Aggregate, Personal & Advertising Injury, Medical Expenses, and Damages Rented to Premises
What does L. & H.W.C stand for?
Longshore and Harbor Workers' Compensation Act Coverage Endorsement
At the top of an Acord 125 form what are the first three words?
Commercial Insurance Application
What does TIV stand for?
Total Insurable Value
What tab in Epic can you find who the client service manager is?
Account Detail ->Servicing OR Policy -> Servicing