CC I > All > Flashcards

All Flashcards

(65 cards)

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1
Q

Exposures of legal liability

A

Premises, Operations, Product, Completed Ops, Auto, Conveyance

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2
Q

Products liability

A

Caused by defects in product design, manufacturing, or failure to sufficiently warn or explain use of product

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2
Q

Premises liability

A

Applies to specific locations

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3
Q

Operations liability

A

Away from premises

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4
Q

completed ops

A

Improper workmanship or defects after work is completed

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5
Q

Tort

A

Negligence, recklessness, intentional acts

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6
Q

Tort negligence

A

Duty owed —> breach of duty —> injury or damages —> proximate cause

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7
Q

Intentional torts

A

Libel, slander, wrongful entry or eviction, assault and battery, wrongful detention, false arrest, copyright infringement

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8
Q

Strict liability

A

Products liability in which manufacturers, distributors, and sellers are liable for all defects or hazardous products that unduly threaten a consumers health and safety

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9
Q

Statute

A

Law enacted by a legislative body

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10
Q

Common law

A

Derived from court decisions and traditions of the past

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11
Q

Contract

A

Between 2 or more parties

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12
Q

Types of legal liability

A

Torts, statutes, contracts

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13
Q

Types of tort

A

Negligence, intentional, strict

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14
Q

Types of damage

A

Special, general

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15
Q

Special damages

A

Specific dollar amounts that cover costs of medical bills, lost income, rehab, or repair/replacement of property

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16
Q

General damages

A

Subjective dollar amounts that compensate injured party for intangible losses such as pain and suffering

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17
Q

Punitive/exemplary

A

Punish wrongdoer’s conduct

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18
Q

GL policy structure

A

Common declarations, common conditions, gl declarations, gl coverage, endorsements

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19
Q

What’s on common policy declarations

A

Who, what, where, when, premiums for each coverage

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20
Q

What’s on common policy conditions

A

Cancellation, policy changes, audits, inspections, premium pay age, assignment of policy

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21
Q

CGL Coverage Form Part A

A

Bodily injury and property damage

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22
Q

CGL Coverage Form Part B

A

Personal and advertising injury

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23
Q

CGL Coverage Form Part C

A

Medical payments

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24
What’s on cgl coverage a
Premises, operations, products, completed ops, contractual, contingent
25
Contingent
Similar to vicarious liability
26
What’s on cgl coverage B
Operations, contingent
27
What’s on cgl coverage C
Premises, operations
28
Types of insureds
Named, additional, automatic
29
Named insured
Specifically named on policy
30
Automatic insureds
Specific parties granted status depending on organizational structure of named insured
31
Additional insured
Third parties granted insured status through deliberate endorsement
32
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Insureds - Individual
Named individual, spouse
34
Insureds - partnership/joint venture
Named partnership, named joint venture, partner, member, spouse
35
Insureds - LLC
Named LLC, members, managers
36
Insureds - Organization
Named entity, executive officers, directors, stockholders
37
Insureds - Trust
Named trust, trustees
38
If named insured dies, who is automatic insurdd
Person or org with temporary custody or legal representation
39
Which types of organizations do not get newly acquired organization automatic insured?
Partnership, joint venture, or LLC
40
How long does automatic coverage get granted to newly acquired organizations?
Until 90th day or end of policy period, whichever is earlier
41
Occurrence
Either a one-time accident or exposure to a harmful condition that is either repeated over a long period of time or continuous period of time
42
Coverage territory
US, it’s territories and possessions, Puerto Rico, and Canada with airspace and international travel in between covered territories
43
When do we get world wide coverage
coverage made or sold in coverage territory, person whose home is in coverage territory but is away for short period of time on insured’s business, personal and ad offenses through internet (suit must be brought in coverage territory), or liability determined in a suit brought in the coverage territory or in a settlement agreed by insurance company
44
Bodily injury
Physical injury, sickness, or disease sustained by a person
45
Property damage
Direct damage and loss of use to tangible property
46
Leased worker
Leased by employee leasing firm; Typically long term
47
Temporary worker
Substitute for a permanent worker
48
Auto
Land vehicle, trailer, semi-trailer, attached machinery or equipment, subject to financial responsibility, and self-propelled with permanently mounted items such as snow plows, road maintenance (not construction of resurfacing) and steel cleaners
49
Mobile equipment
Bulldozers, farm machinery, forklifts, vehicles used for off road, vehicles maintained for use solely on or next to your premises, vehicles traveling on crawler treads, and vehicles with permanently mounted items
50
Coverage A insuring agreement
Pays damage for BI or PD, pays dense (only if loss is covered), and applies if caused by occurrence in coverage territory during policy period with no prior knowledge
51
Insured contracts
Leased premises, easement/license agreement, an obligation required by ordinance, sidetrack agreement with railroad, elevator maintenance agreement, indemnity contracts pertaining to your business
52
Coverage A exclusions
17 of them - page 50
53
Coverage B insuring agreement
Pays damage because of personal and advertising injury and provides defense
54
Advertisement
Notice that is broadcast or published to general public in order to attract public customers or supporters
55
Coverage B Exclusions
15 exclusions - page 70
56
Coverage C insuring agreement
Pays medical expenses for BI triggered by an accident on or next to owned or rented premises or because of named insureds operation
57
Difference between coverage C insuring agreement vs A and B?
No fault coverage - legal responsibility not required
58
Coverage C exclusions
7 exclusions - page 75
59
Types of supplementary payments
Insurer expenses (defense), bail bonds, attachment bonds, court costs (a and b), reasonable expenses, and pre judgement/post judgement interest
60
How much will insurance pay for bail bonds
$250
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CC I
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