Which of the following is an important difference between coverage provided by commercial general liability (CGL) insurance and coverage provided by professional liability and management liability insurance? (A) Costs of legal defense often are paid within (not in addition to) policy ...

(A) Both are divided into liability and physical damage sections. (B) Both require strict qualifications and licensing of drivers or pilots. (C) Both exclude obligations of the insured under workers’ compensation laws. (D) Both exclude loss due to wear and ...

Which of the following is true regarding “drop-down” coverage that pays claims for which the underlying commercial liability policies do not provide coverage, regardless of aggregate limits? I. It is provided by commercial excess liability insurance. II. It is provided by ...

I. It extends workers’ compensation coverage for types of employment typically exempt from statutorily mandated coverage. II. It allows the employer to have the insurer pay benefits in excess of those required by statute in cases of severe work-related injuries.