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Second Hour Exam

Second Hour Exam. Thursday, April 22 8:30-9:50 a.m. 150 Animal Sciences Lab Open Book, Open Note ~10 True/False ~10 Multiple Choice ~5 Short Answer or Calculations. Exam Covers. Focus of exam: Commercial Property CGL Excess and Umbrella Policies Business Auto Insurance

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Second Hour Exam

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  1. Second Hour Exam Thursday, April 22 8:30-9:50 a.m. 150 Animal Sciences Lab Open Book, Open Note ~10 True/False ~10 Multiple Choice ~5 Short Answer or Calculations

  2. Exam Covers Focus of exam: • Commercial Property • CGL • Excess and Umbrella Policies • Business Auto Insurance • WC and Employers Liability Some questions on: • Material prior to first exam • Underwriting • Insurance Contract Analysis

  3. Assignment 5 Key 1. CNA $50,000 8. AIG $500,000 2. CNA $100,000 9. AIG BERP $450,000 3. St. Paul 1 $270,000 10. AIG BERP $50,000 4. St. Paul 1 $500,000 11. AIG SERP $400,000 5. St. Paul 1 $500,000 12. AIG SERP $500,000 6. St. Paul 1 $230,000 13. No coverage 7. St. Paul 2 $500,000

  4. Class Assignment 9 Key 1. No coverage, since the loss occurred after the policy expired 2. Yes, since the security guard was responding reasonably given the circumstances. 3. No, since failure of a product or service to meet advertised standards is excluded. 4. The policies they wrote years ago had no pollution exclusion and were occurrence policies, so claims are being made now for pollution that occurred many years ago.

  5. Class Assignment 10 Key 1. No coverage (The vehicle is not covered.) 2. $60,000 (Mobile equipment is covered while being towed.) 3. No coverage (This would be covered under CGL policy.) 4. $15,400 (Comprehensive) 5. $4,400 (could be covered under comprehensive as a “falling object” since the deductible is lower than the collision deductible) 6. $900 (Comprehensive) 7. No coverage (Not included in Symbol 7.)

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