Home/ Questions/Q 11567
Next
Answered

ExamList Latest Questions

Brooke
  • 0
  • 0
Enlightened
Asked: 2021-08-07T19:42:10+00:00 In:

What is the fundamental difference between the three commercial property insurance covered causes of loss forms – Basic Form, Broad Form, and Special Form?

  • 0
  • 0

(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 Broad and Special Forms cover all perils that are not specifically excluded.
(E) Both the Basic and Broad Forms are written on a named perils basis while the Special Form provides coverage for all direct causes of loss not specifically excluded.

actuary exam questions and answerscanadian institute of actuariesGeneral Insurance Examgiintsociety of actuaries
Leave an answer

Leave an answer

Browse


1 Answer

  1. Brooke
    Best Answer
    Enlightened

    (E) Both the Basic and Broad Forms are written on a named perils basis while the Special Form provides coverage for all direct causes of loss not specifically excluded.

    (E) Both the Basic and Broad Forms are written on a named perils basis while the Special Form provides coverage for all direct causes of loss not specifically excluded.

    See less