Louisiana Property and Casualty Exam with Complete Solutions

In which type of commercial crime policy coverage is triggered by a loss that happens during the policy period but is not necessarily discovered during the policy peri - ANSWER- Robbery is: - ANSWER-Taking of property by use of force, violence, or fear The crime of forced entry into the premises of another by a persons with felonious intent is defined as: - ANSWER-Burglary Erroneous Publishing copied all the material from Angel's Inc book. The only changes made by Erroneous were to rename the title and chapters, put a different cover on it, and distribute it as its own. Angels Inc filed a claim against Erroneous and seeks damages. Will a commercial policy cover the claim? - ANSWER-No, because the claim results from copyright infringement and is not in an advertisement Supplemental payments on a CGL provide all of the following EXCEPT: - ANSWER-Up to $500 a day for lost earnings and $2,000 for the cost of bail bonds The occurrence form trigger is based on which of the following? - ANSWER-When notice is received and recorded by any insured or the insurer, whichever comes first The transfer of money from inside a banking premises to a person other that the messenger outside those premises or to a place outside those premises is covered under which commercial crime coverage? - ANSWER-Computer Fraud • - ANSWER-A written agreement which indemnifies a person for fire damage to the premises rented to the insured Rita drops off her wedding gown at Vicky's Dry Cleaners for a final pressing. The store's press breaks so Vicky takes Rita's dress to her other store across town. On the way to the other store, Vicky is held at gunpoint until she gives the man the wedding dress. What crime coverage form would pay for the loss of the gown in this situation? - ANSWER-Extortion - Commercial Entities A liability policy that provides coverage for a claim for injury or damage if the claim is first reported or filed against the insured during the policy is called: - ANSWER- • - ANSWER-Claims-made form All of the following conditions must exist for injury or damage to be included in the products and completed operation hazard of a commercial general liability policy EXCEPT: - ANSWER- • - ANSWER-The injury or damage must occur within 90 days after the insured's work is complete All of the following statements concerning liability coverage are true EXCEPT: - ANSWER- • - ANSWER-The policy holder can sue the insurer whether or not all conditions and provisions of the policy have been met. The insured with a claims-made commercial general liability policy may request in writing claim and occurrence information from the insurer at any time up to 60 days after the policy period ends. The insurer must provide the information: - ANSWER-