I. It can be written to cover the insured’s legal liability arising from premises and operations. II. It can be written to cover the insured’s legal liability arising from products and completed operations. III. It can be included in a ...

(A) Larger limits of insurance. (B) Smaller deductible amounts. (C) Broader covered causes of loss. (D) Higher coinsurance requirements. (E) Additional optional coverages.

(A) This option removes any uncertainty regarding compliance with the coinsurance clause. (B) Insurers typically require proof of value before providing agreed value coverage. (C) Agreed values of the property are shown on the policy’s declarations page. (D) If the ...

(A) Limits a bailee’s liability for damages to the property of others in the bailee’s care, custody, and control. (B) Is intended to defeat a bailee’s attempts to limit its liability for damages to property insured by the bailor. (C) ...

ABC Corporation is insured under a Business and Personal Property Coverage Form that specifies a $4 million limit of insurance on the building and a $500,000 limit on business personal property at the building’s address. The policy has a $10,000 ...

(A) The type(s) of property covered. (B) Only the Special Form offers additional coverage for fungus and collapse. (C) The number of perils listed in each causes of loss form. (D) The Basic Form names the perils covered while the ...

(A) The description of the covered property. (B) The list of mortgagees, if any. (C) The list of optional coverages, if any. (D) The cancellation provisions. (E) The policy period.

I. FAIR plans make property insurance coverage available for exposures located in areas underserved by the voluntary market. II. FAIR plans are uniform in methods of operation and products offered in all states. III. FAIR plans require covered property to ...

(A) Motor vehicle in dead storage on an insured location. (B) Motor vehicle powered by one or more batteries that cannot exceed five miles per hour on level ground that is designed as a toy for use by children under ...

I. The condition applies insurance separately to each insured. II. The condition does not increase the insurer’s limit of liability for any one occurrence. III. The condition allows the policy to cover a claim brought by one insured against another ...