Products and Completed Operations Liability
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, Involves the transfer of risk Liability arising out of the
from the insured to the insurer insured's products or its
which is normally a larger completed work
entity more financially able to
absorb the loss
Insurer Licensing and Capital Requirements
No worries, learning is a process!
Method developed to An insurer must meet certain
determine the minimum capital or surplus standards to
amount of capital required of be granted a license to write
an insurer to support its insurance in a particular
operations and write coverage jurisdiction
Large Number of Similar Exposure Units
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An insurer needs this in order to achieve predictive accuracy, taking
advantage of the law of large numbers
Offenses that Trigger Coverage B
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, False arrest, detention, or imprisonment, malicious prosecution, wrongful
eviction, wrongful entry, invasion of privacy, libel or slander of a person,
organization, product, or service, advertising infringement, etc.
Boiler and Machinery Exposure
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Covers loss caused by mechanical or electrical equipment breakdown
Employment Practices Policy
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Covers wrongful acts arising from the employment process
Permissive Users
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Includes most persons while using the named insured's covered auto with
the named insured's persmission
Property Insurance
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, First-party insurance that indemnifies the owner of user of property for his
or her loss, if caused by a covered peril such as fire or windstorm
Acceptance
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The assent to the offer; it must be unconditional and communicated clearly
as well
General Liability Insurance
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Provides protection against damages awarded to a third party because of
injury or damage for which the insured is legally responsible, including loss
of use of property claims and protection against the cost of defending the
insured against the charges alleged in the suit, including attorney fees,
investigation costs, and other legal expenses
Incurred Losses Affect
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The amount of premiums paid by insured businesses
Not quite, you're still learning!
, Involves the transfer of risk Liability arising out of the
from the insured to the insurer insured's products or its
which is normally a larger completed work
entity more financially able to
absorb the loss
Insurer Licensing and Capital Requirements
No worries, learning is a process!
Method developed to An insurer must meet certain
determine the minimum capital or surplus standards to
amount of capital required of be granted a license to write
an insurer to support its insurance in a particular
operations and write coverage jurisdiction
Large Number of Similar Exposure Units
Give this one a try later!
An insurer needs this in order to achieve predictive accuracy, taking
advantage of the law of large numbers
Offenses that Trigger Coverage B
Give this one a try later!
, False arrest, detention, or imprisonment, malicious prosecution, wrongful
eviction, wrongful entry, invasion of privacy, libel or slander of a person,
organization, product, or service, advertising infringement, etc.
Boiler and Machinery Exposure
Give this one a try later!
Covers loss caused by mechanical or electrical equipment breakdown
Employment Practices Policy
Give this one a try later!
Covers wrongful acts arising from the employment process
Permissive Users
Give this one a try later!
Includes most persons while using the named insured's covered auto with
the named insured's persmission
Property Insurance
Give this one a try later!
, First-party insurance that indemnifies the owner of user of property for his
or her loss, if caused by a covered peril such as fire or windstorm
Acceptance
Give this one a try later!
The assent to the offer; it must be unconditional and communicated clearly
as well
General Liability Insurance
Give this one a try later!
Provides protection against damages awarded to a third party because of
injury or damage for which the insured is legally responsible, including loss
of use of property claims and protection against the cost of defending the
insured against the charges alleged in the suit, including attorney fees,
investigation costs, and other legal expenses
Incurred Losses Affect
Give this one a try later!
The amount of premiums paid by insured businesses
