Casualty: Types of Policies, Bonds, and Related Terms

What is cyber liability and data breach coverage?

• Coverage for losses related to cyber attacks and data breaches.

• Insurance for physical property damage.

• Protection against natural disasters.

• Coverage for employee health benefits.

What are the limits in Commercial General Liability?

• Per occurrence and Annual Aggregate limits.

• Per incident and Monthly Aggregate limits.

• Per claim and Total Aggregate limits.

• Per event and Yearly Aggregate limits.

What is fidelity bond?

• A bond that protects against losses caused by fraudulent acts of employees.

• A type of insurance for property damage.

• A bond that guarantees the performance of a contract.

• A loan agreement between two parties.

Who is considered an insured under automobile insurance?

• The policy defines specific individuals or entities as insureds.

• Only the vehicle owner is considered insured.

• Any driver of the vehicle is automatically insured.

• Only named drivers on the policy are insured.

What is a combined single limit in automobile insurance?

• A limit that applies only to bodily injury claims.

• A single limit for both bodily injury and property damage per accident.

• A limit that applies only to property damage claims.

• A limit that varies by state regulations.

What is the exclusive remedy in workers compensation?

• The principle that workers compensation is the sole remedy for work-related injuries or illnesses.

• A legal process to sue an employer for negligence.

• A type of insurance that covers all medical expenses regardless of the cause.

• A system that allows workers to claim damages for emotional distress.

What is covered under workers compensation insurance?

• Compensation for work-related injuries or illnesses.

• Coverage for personal injuries outside of work.

• Insurance for property damage during work hours.

• Health insurance for all employees.

What is covered under robbery in crime insurance?

• Losses due to robbery, which involves force or threat of force.

• Theft of property without any force involved.

• Losses due to natural disasters affecting property.

• Damage to property caused by vandalism.

What is covered under theft in crime insurance?

• Losses due to theft of property.

• Losses due to accidental damage to property.

• Losses due to natural disasters affecting property.

• Losses due to vandalism of property.

What is errors and omissions in professional liability?

• Coverage for professionals against claims of negligence or inadequate work.

• A type of insurance for property damage.

• A legal term for contract breaches.

• A policy that covers personal injuries only.