Maryland Property & Casualty ExamFx
1. BOP Optional Coverages- Employee Dishonesty: Loss to business, business personal
property, or money & securities; includes anyone currently employed or in the past 30 days.
Acts committed by the insured or partners are EXCLUDED
2. BOP Optional Coverages- Money & Securities: Loss resulting from theft, disappearance
& destruction. Verification of loss/damage is dependent on records.
Money & securities must have been at the insured's premises, financial institution, home, or in
transit.
3. BOP Optional Coverages- Equipment Breakdown Protection: Covers direct loss or damage
to property resulting from: mechanical breakdown, electrical failure to pressure, mechanical or
electrical machinery/equipment
4. Dwelling Policy Structure: Agreement, Definitions, Deductibles, Coverages & Other
Coverages, Perils Insured Against, General Exclusions, Conditions
5. Exclusions found in all 3 Dwelling Forms: earth movement, water damage, power failure,
neglect, war, nuclear hazard, intentional loss, freezing of plumbing, ordinance or law &
government action
6. Section I of a BOP: Property- Direct physical loss to covered property; business owner
chooses to insure either: Buildings, Business Personal Property, or both.
7. Eligible for BOP: Office Buildings
8. Eligible for BOP: Apartments & Condos
9. Eligible for BOP: Mercantile & Service Establishments
10. Eligible for BOP: Some Contractors- electricians, plumbers, painters etc
11. Eligible for BOP: Fast food restaurants
12. Eligible for BOP: Convenience Stores
13. Not eligible for BOP: Auto sales & servicing operations
14. Not eligible for BOP: Manufacturing Operations
15. Not eligible for BOP: Places of amusement
16. Not eligible for BOP: Bars & Grills
17. Not eligible for BOP: Financial Institutions
18. Characteristics of a BOP: Prepackaged policy (property & liability coverage),small-med
sized businesses, single premium for property & liability
19. Commercial General Liability Coverage A: bodily injury and property damage
20. Commercial General Liability Coverage B: Personal injury and advertisinginjury
,21. Commercial General Liability Coverage C: Medical Payments
22. Commercial General Liability Coverage A Exclusions: Expected or inten- tional injury,
contractual liability, liquor liability, pollution, war, damage to property, worker's compensation,
electronic data
23. Commercial General Liability Coverage B Exclusions: Knowingly publishingfalse
material, criminal acts, breach or contract, copyright infringement, media & internet type
businesses, violation of communication laws
24. What would be considered mobile equipment?: bulldozers, farm machinery, forklifts,
vehicles on crawler treads, vehicles that provide mobility to cranes, shovels, loaders or road
construction equipment, vehicles that aren't self-propelles that
provide mobility to compressors, pumps, spraying or welding equipment or cherrypickers
25. what would not be considered mobile equipment?: Anything that requiresauto insurance
26. What is PRODUCTS & COMPLETED OPERATIONS LIABILITY?: Covers BIor PD
occurring away from the insured's premises & arising out of the insured's product or work
27. What is PREMISES LIABILITY?: Any losses on premises; ex. a customerslipping on a
restaurant floor
28. Which dwelling policy coverage will provide protection for contents dam-aged by fire in
an insured dwelling?: Coverage C-Personal Property
29. Under what conditions can broad theft coverage be added to a dwellingpolicy?: if the
insured is the owner-occupant of the dwelling.
30. Under Coverage C- Personal Property in the dwelling policy, when will a guest's
property be covered?: Only when the property is at the insured location.
31. What is the difference between a Claims Made and Occurence policy?: In aClaims-Made
policy the claim will be paid only if the claim is made BEFORE the policy expires; in
Occurence the claim will be paid even if submitted after the policyexpiration.
32. What is burglary in a CCP?: Crime of forced entry of another person, committedwith
felonious intent.
33. What is robbery in a CCP?: Taking property from another person by means ofthreatening
bodily harm or committing an unlawful act.
34. What is theft in a CCP?: The act of stealing; encompasses both burglary &robbery.
35. What is safe burglary in a CCP?: Forced entry resulting in the theft of contentsfrom a
safe or the safe itself.
36. Commercial Crime Employee Theft coverage: current employees, temporaryemployees
hired from contractors, former employees performing duties as consul-tants & terminated
employees covered for 30 days; property, money, securities & other covered.
, 37. Commercial Crime Inside-Theft of Money or Securities: Loss of money &securities from
the premises
38. Commercial Crime Forgery or Alteration: Worldwide coverage for loss ofmoney
39. Commercial Crime Outside-Theft, disappearance or destruction: Loss out-side the
premises
40. Commercial Crime Inside-Robbery or State Burglary of Others Property: -
Loss or damage to property inside the premises
41. Commercial Crime Computer Fraud: Worldwide coverage for the loss of mon-ey,
securities & other property
42. Commercial Crime Fund Transfer Fraud: Loss from fraudulent instructionsreceived by a
financial institution
43. Loss Sustained: reported during the policy period or before the retroactive date;must be
discovered within one year
44. Discovery Form: Commercial crime form that covers losses that are sustained at any time
and discovered either during the policy period or up to 60 days after thepolicy expires.
45. BOP SECTION II- LIABILITY: Covers: BI, PD, Personal Injury & Advertising Injury.
Features: Occurence coverage trigger, limits of liability, supplemental paymentpaid in addition to
limit of insurance, duty to defend ends when limits are exhausted.
46. BOP - Selected Endorsements: Hired & Nonowned Auto (Liability for use of hired or
nonowned autos), Utility Services-Direct Damage(Direct damage caused by service
disruption from a covered peril), Protective Safeguards (requires safe- guards as condition for
coverage; allows 48 hours to restore), Utility Services-TimeElement(Loss of business income
or extra expense)
47. BOP Extensions- Newly Acquired/Constructed Property: Up to $250,000 for building/Up to
$100,000 for business personal property; coverage applies for 30 days after insured acquires
property or end of policy-whichever comes first.
48. BOP Extensions- Personal Property Off Premises: Up to $10,000 for busi- ness personal
property during transit or temporarily at the premises that the insureddoes not own, lease etc.
(not for money/securities)
49. BOP Extensions- Outdoor Property: Outdoor radios, tv antennas, detached signs & plants-
damage must result from fire lightning, explosion, riot, civil commo- tion, aircraft; up to
$2,500 but not more than $1,000 per plant
50. BOP Extensions-Personal Effects: Up to $2,500 for each described premises; for personal
effects owned by insured, officers, partners, or members of the insured& employees
51. BOP Extensions-Valuable Papers & Records: Up to $10,000 for research, replacement,
restoration of lost info; up to $5,000 for valuable papers & records notat the described
1. BOP Optional Coverages- Employee Dishonesty: Loss to business, business personal
property, or money & securities; includes anyone currently employed or in the past 30 days.
Acts committed by the insured or partners are EXCLUDED
2. BOP Optional Coverages- Money & Securities: Loss resulting from theft, disappearance
& destruction. Verification of loss/damage is dependent on records.
Money & securities must have been at the insured's premises, financial institution, home, or in
transit.
3. BOP Optional Coverages- Equipment Breakdown Protection: Covers direct loss or damage
to property resulting from: mechanical breakdown, electrical failure to pressure, mechanical or
electrical machinery/equipment
4. Dwelling Policy Structure: Agreement, Definitions, Deductibles, Coverages & Other
Coverages, Perils Insured Against, General Exclusions, Conditions
5. Exclusions found in all 3 Dwelling Forms: earth movement, water damage, power failure,
neglect, war, nuclear hazard, intentional loss, freezing of plumbing, ordinance or law &
government action
6. Section I of a BOP: Property- Direct physical loss to covered property; business owner
chooses to insure either: Buildings, Business Personal Property, or both.
7. Eligible for BOP: Office Buildings
8. Eligible for BOP: Apartments & Condos
9. Eligible for BOP: Mercantile & Service Establishments
10. Eligible for BOP: Some Contractors- electricians, plumbers, painters etc
11. Eligible for BOP: Fast food restaurants
12. Eligible for BOP: Convenience Stores
13. Not eligible for BOP: Auto sales & servicing operations
14. Not eligible for BOP: Manufacturing Operations
15. Not eligible for BOP: Places of amusement
16. Not eligible for BOP: Bars & Grills
17. Not eligible for BOP: Financial Institutions
18. Characteristics of a BOP: Prepackaged policy (property & liability coverage),small-med
sized businesses, single premium for property & liability
19. Commercial General Liability Coverage A: bodily injury and property damage
20. Commercial General Liability Coverage B: Personal injury and advertisinginjury
,21. Commercial General Liability Coverage C: Medical Payments
22. Commercial General Liability Coverage A Exclusions: Expected or inten- tional injury,
contractual liability, liquor liability, pollution, war, damage to property, worker's compensation,
electronic data
23. Commercial General Liability Coverage B Exclusions: Knowingly publishingfalse
material, criminal acts, breach or contract, copyright infringement, media & internet type
businesses, violation of communication laws
24. What would be considered mobile equipment?: bulldozers, farm machinery, forklifts,
vehicles on crawler treads, vehicles that provide mobility to cranes, shovels, loaders or road
construction equipment, vehicles that aren't self-propelles that
provide mobility to compressors, pumps, spraying or welding equipment or cherrypickers
25. what would not be considered mobile equipment?: Anything that requiresauto insurance
26. What is PRODUCTS & COMPLETED OPERATIONS LIABILITY?: Covers BIor PD
occurring away from the insured's premises & arising out of the insured's product or work
27. What is PREMISES LIABILITY?: Any losses on premises; ex. a customerslipping on a
restaurant floor
28. Which dwelling policy coverage will provide protection for contents dam-aged by fire in
an insured dwelling?: Coverage C-Personal Property
29. Under what conditions can broad theft coverage be added to a dwellingpolicy?: if the
insured is the owner-occupant of the dwelling.
30. Under Coverage C- Personal Property in the dwelling policy, when will a guest's
property be covered?: Only when the property is at the insured location.
31. What is the difference between a Claims Made and Occurence policy?: In aClaims-Made
policy the claim will be paid only if the claim is made BEFORE the policy expires; in
Occurence the claim will be paid even if submitted after the policyexpiration.
32. What is burglary in a CCP?: Crime of forced entry of another person, committedwith
felonious intent.
33. What is robbery in a CCP?: Taking property from another person by means ofthreatening
bodily harm or committing an unlawful act.
34. What is theft in a CCP?: The act of stealing; encompasses both burglary &robbery.
35. What is safe burglary in a CCP?: Forced entry resulting in the theft of contentsfrom a
safe or the safe itself.
36. Commercial Crime Employee Theft coverage: current employees, temporaryemployees
hired from contractors, former employees performing duties as consul-tants & terminated
employees covered for 30 days; property, money, securities & other covered.
, 37. Commercial Crime Inside-Theft of Money or Securities: Loss of money &securities from
the premises
38. Commercial Crime Forgery or Alteration: Worldwide coverage for loss ofmoney
39. Commercial Crime Outside-Theft, disappearance or destruction: Loss out-side the
premises
40. Commercial Crime Inside-Robbery or State Burglary of Others Property: -
Loss or damage to property inside the premises
41. Commercial Crime Computer Fraud: Worldwide coverage for the loss of mon-ey,
securities & other property
42. Commercial Crime Fund Transfer Fraud: Loss from fraudulent instructionsreceived by a
financial institution
43. Loss Sustained: reported during the policy period or before the retroactive date;must be
discovered within one year
44. Discovery Form: Commercial crime form that covers losses that are sustained at any time
and discovered either during the policy period or up to 60 days after thepolicy expires.
45. BOP SECTION II- LIABILITY: Covers: BI, PD, Personal Injury & Advertising Injury.
Features: Occurence coverage trigger, limits of liability, supplemental paymentpaid in addition to
limit of insurance, duty to defend ends when limits are exhausted.
46. BOP - Selected Endorsements: Hired & Nonowned Auto (Liability for use of hired or
nonowned autos), Utility Services-Direct Damage(Direct damage caused by service
disruption from a covered peril), Protective Safeguards (requires safe- guards as condition for
coverage; allows 48 hours to restore), Utility Services-TimeElement(Loss of business income
or extra expense)
47. BOP Extensions- Newly Acquired/Constructed Property: Up to $250,000 for building/Up to
$100,000 for business personal property; coverage applies for 30 days after insured acquires
property or end of policy-whichever comes first.
48. BOP Extensions- Personal Property Off Premises: Up to $10,000 for busi- ness personal
property during transit or temporarily at the premises that the insureddoes not own, lease etc.
(not for money/securities)
49. BOP Extensions- Outdoor Property: Outdoor radios, tv antennas, detached signs & plants-
damage must result from fire lightning, explosion, riot, civil commo- tion, aircraft; up to
$2,500 but not more than $1,000 per plant
50. BOP Extensions-Personal Effects: Up to $2,500 for each described premises; for personal
effects owned by insured, officers, partners, or members of the insured& employees
51. BOP Extensions-Valuable Papers & Records: Up to $10,000 for research, replacement,
restoration of lost info; up to $5,000 for valuable papers & records notat the described
