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WorksheetsCasualty: Types of Policies, Bonds, and Related Terms
Total questions: 20
Worksheet time: 10mins
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.
What is a Business Owners Policy (BOP)?
A type of insurance for large corporations.
A package policy that combines various coverages needed by small to medium-sized businesses.
A policy that only covers property damage.
A government-sponsored insurance program for small businesses.
What are the exposures under Commercial General Liability?
Premises and Operations, Products and Completed Operations.
Employee Benefits Liability, Professional Liability.
Cyber Liability, Environmental Liability.
Directors and Officers Liability, Workers' Compensation.
What are supplemental payments in Commercial General Liability?
Additional payments made by the insurer beyond the policy limits for certain expenses.
Payments made to cover the full policy limit in case of a claim.
Refunds issued to policyholders for unused coverage.
Payments made for legal fees only, regardless of the claim outcome.
What does automobile liability cover?
Bodily Injury and Property Damage.
Personal Injury Protection and Medical Payments.
Comprehensive and Collision Coverage.
Uninsured Motorist Coverage.
What does automobile medical payments cover?
Medical expenses for injuries sustained in an auto accident.
Property damage caused by an auto accident.
Legal fees for lawsuits related to auto accidents.
Loss of income due to auto accident injuries.
What is the Auto Dealers Coverage Form?
A form that includes Garagekeepers Insurance for auto dealers.
A policy that covers personal vehicles for auto dealers.
A document required for auto dealer licensing.
A form that provides liability coverage for auto repair shops.
What is liquor liability?
Coverage for businesses against claims related to the sale or serving of alcohol.
A type of insurance for personal property damage.
Liability coverage for non-alcoholic beverage sales.
A policy that protects against theft of alcohol inventory.
What is directors and officers (D&O) liability?
Coverage for directors and officers of a company against claims of wrongful acts.
Insurance for employees against workplace injuries.
Protection for shareholders against market losses.
Liability coverage for company assets in case of bankruptcy.
What does Coverage A under Commercial General Liability cover?
Bodily Injury and Property Damage Liability (Occurrence, Claims made including Retroactive Date)
Personal Injury Liability
Advertising Injury Liability
Professional Liability Coverage
What is employers liability insurance?
Coverage for employers against claims by employees for work-related injuries or illnesses not covered by workers compensation.
Insurance that protects employees from workplace accidents.
A policy that covers the cost of employee training and development.
A type of insurance that provides benefits to employees who retire.
