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CIC COMMERCIAL PROPERTY
CIC COMMERCIAL PROPERTY What are commercial property loss exposures - ANSWER Buildings, personal property of owner, others and off premises, business income. What are some causes of loss - ANSWER Fire, accident, weather, crime and disaster. What should be considered when determining coverage amounts - ANSWER potential for loss and probable maximum loss. Coveage form includes loss payment at Actual Cash Value or ACV, what is ACV> - ANSWER The amount of loss minus depreciation. No s...
- Exam (elaborations)
- • 3 pages •
CIC COMMERCIAL PROPERTY What are commercial property loss exposures - ANSWER Buildings, personal property of owner, others and off premises, business income. What are some causes of loss - ANSWER Fire, accident, weather, crime and disaster. What should be considered when determining coverage amounts - ANSWER potential for loss and probable maximum loss. Coveage form includes loss payment at Actual Cash Value or ACV, what is ACV> - ANSWER The amount of loss minus depreciation. No s...
CIC Commercial Property Exam Prep
CIC Commercial Property Exam Prep Endorsements used to modify coverage extensions (6) - ANSWER 1. newly acquired or constructed property - increased limit 2. higher limits 3. specified bpp temporarily away from premises 4. additional covered property 5. radio or television antennas 6. trees, shrubs, plants Explain replacement cost - ANSWER - without deduction for depreciation - claims are paid on acv until repairs or replacements is complete and then difference is paid - doe...
- Exam (elaborations)
- • 3 pages •
CIC Commercial Property Exam Prep Endorsements used to modify coverage extensions (6) - ANSWER 1. newly acquired or constructed property - increased limit 2. higher limits 3. specified bpp temporarily away from premises 4. additional covered property 5. radio or television antennas 6. trees, shrubs, plants Explain replacement cost - ANSWER - without deduction for depreciation - claims are paid on acv until repairs or replacements is complete and then difference is paid - doe...
CIC Commercial Multiline Exam
CIC Commercial Multiline Exam Identify and describe the three primary purposes of excess liability/umbrella policies (LO1) - ANSWER 1. Provide additional limits that are excess over underlying limits of insurance 2. Provide primary coverage when underlying poliy does not respond beacuse its aggregate limits of insruance are exhausted. 3. Provide broader coverage than the exsiting underlying insurance excess liability coverage forms and commercial umbrella liability policy - ANSWER 1...
- Exam (elaborations)
- • 26 pages •
CIC Commercial Multiline Exam Identify and describe the three primary purposes of excess liability/umbrella policies (LO1) - ANSWER 1. Provide additional limits that are excess over underlying limits of insurance 2. Provide primary coverage when underlying poliy does not respond beacuse its aggregate limits of insruance are exhausted. 3. Provide broader coverage than the exsiting underlying insurance excess liability coverage forms and commercial umbrella liability policy - ANSWER 1...
NSG 120 Final Exam Questions Correctly Answers| LATEST UPDATE
NURS 6560 Fitzgerald Acute Care NP Exit Exam (150 Q & A) (Solution Enclosed): Walden University Acute Care NP Exit Exam v-2 with complete solutio
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EDF 6225 FOUNDATIONS OF ABA FINAL EXAM 2023 - UNIVERSITY OF WEST FLORIDA