CPCU 552 - CHAPTER 2 EXAM QUESTIONS AND
ANSWERS WITH COMPLETE SOLUTIONS VERIFIED
GRADED A++
Commercial General Liability (CGL) Coverage Form
provides commercial general liability insurance on either an occurrence or a claims
made coverage basis
CGL
abbreviates commercial general liability
Bodily injury
includes bodily injury, sickness, disease, and resulting death
Property damage
includes physical injury to tangible property, including loss of use of that property and
loss of use of tangible property that is not physically injured
Coverage trigger
the event that applies policy coverage to a claim
Occurrence form
covers events that occur during the policy period
Claims made form
covers claims filed during the policy period
Occurrence
, means an accident, including repeated exposure to substantially the same conditions
Occurrence coverage trigger
any covered event that occurs during the policy period
Montrose language
eliminates CGL coverage for progressive injury or damage if the insured knew of the
injury or damage before the current policy period began
Progressive injury or damage
injury or damage that spans more than one policy period
Contractual liability coverage
covers "insured contracts"
Insured contracts
include lease of premises, railroad sidetrack agreements, easement and license
agreements, obligations required by ordinance to indemnify municipalities, elevator
maintenance agreements, and any assumptions of others' tort liabilities made before
any loss
Amendment of Insured Contract Definition endorsement
modifies CGL coverage so that the definition of "insured contract" does not include BI or
PD caused by an indemnitee of the named insured
Host liquor liability coverage
covers a person or organization that serves alcohol to others but is not in the alcoholic
beverage business
Exclusive remedy
ANSWERS WITH COMPLETE SOLUTIONS VERIFIED
GRADED A++
Commercial General Liability (CGL) Coverage Form
provides commercial general liability insurance on either an occurrence or a claims
made coverage basis
CGL
abbreviates commercial general liability
Bodily injury
includes bodily injury, sickness, disease, and resulting death
Property damage
includes physical injury to tangible property, including loss of use of that property and
loss of use of tangible property that is not physically injured
Coverage trigger
the event that applies policy coverage to a claim
Occurrence form
covers events that occur during the policy period
Claims made form
covers claims filed during the policy period
Occurrence
, means an accident, including repeated exposure to substantially the same conditions
Occurrence coverage trigger
any covered event that occurs during the policy period
Montrose language
eliminates CGL coverage for progressive injury or damage if the insured knew of the
injury or damage before the current policy period began
Progressive injury or damage
injury or damage that spans more than one policy period
Contractual liability coverage
covers "insured contracts"
Insured contracts
include lease of premises, railroad sidetrack agreements, easement and license
agreements, obligations required by ordinance to indemnify municipalities, elevator
maintenance agreements, and any assumptions of others' tort liabilities made before
any loss
Amendment of Insured Contract Definition endorsement
modifies CGL coverage so that the definition of "insured contract" does not include BI or
PD caused by an indemnitee of the named insured
Host liquor liability coverage
covers a person or organization that serves alcohol to others but is not in the alcoholic
beverage business
Exclusive remedy
