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Endorsement
Data
Media
Rider
Newly Acquired Location
Temporary Location
Valued Bill of Lading
Bailee for Hire
Ordinary Care
Common Carrier
Standard Bill of Lading
Released Bill of Lading
Contract Carrier
Private Carrier
Catastrophe Limit
Physical Protection
Electronic Protection
Line Security
Point Protection
Area Protection
Perimeter Protection
Identify the 3 exposures insured by the By-Laws Endorsement
The insurance Acts of the common law provinces require that every policy insuring against the peril of fire also insure:
All of the following are methods used by common carriers to limit liability except one:
a) Standard Bill of Lading
b) Valued Bill of Lading
c) Enhanced Bill of Lading
d) Released Bill of Lading
Insurance policies define certain terms as they relate to coverage. The broadest meaning is given to:
a) Burglary
b) Theft
c) Robbery
d) Hold-up
Loss due to war or arising out of the nuclear energy hazard is exclude under the Commercial Building/Stock/Equipment-Broad form why?
Loss due to flood/earthquake is excluded under the Commercial Building/Stock/Equipment-Broad formwhy?
Automobiles/Aircraft coverage is excluded under the Commercial Building/Stock/Equipment-Broad form why?
By-Laws regulating rebuilding after an insured loss should be discussed with insured. Identify the types of changes which might be required by such By-Laws
Sources of Business Interruption Losses
Money
Custodian
Theft
Burglary
Securities
Robbery
Messenger
Discovery period
Employee Dishonesty
Forgery
Income
Semi-Variable Expenses
Net Profit
Fixed Expense
Gross profit
Actual Loss Sustained
Ordinary Payroll Expense
Contributing Properties
Recipient Properties
Magnet Properties
Identify 4 categories that buildings may fall into
Identify the 2 bases that coverage can be provided on?
Identify 3 ways which property can be valued
What are four provisions contained in the Premium Adjustment Clause?
What two factors are the type of business interruption coverage required based on?
Gross Earnings
What arguments can be made for insuring ordinary payroll expense on limited basis
What are 3 advantages of the Profits form over the Gross Earnings Form
What kind of businesses would purchase the Extra Expense Insurance
What is the "period of restoration"
Identify two miscellaneous forms to assist with costs in calculating the amount of their business interruption claim
Identify 3 factors to consider when selecting a limit of insurance under the Rent or Rental Value Endorsement
Insured's who purchase Gross Earnings Form and Profits Form don't need to purchase the Extra Expense Endorsement?
What are the 5 methods used to determine ACV?
What are the 5 extensions of a building?
Package Policy
Manuscript Policies
What is the purpose of the stated amount co-insurance clause?
