Question

17.. If served with a claim or suit, which of the following best describes the insured’sobligations under the CGL policy?

Group of answer choices

Record the details of the claim, notify the insurance company, cooperate in the investigation

Investigate the claim and notify the insurance company if it is a large potential loss

Record the details of the claim and notify your attorney to begin structuring legal defense

Notify the insurance company and try to settle with the claimant directly for a lesser amount

Send the claim to the insurance company and delay investigation until contacted

18. Assumption by an insurance company of an insured’s legal right to collect a debt or damages is commonly referred to as:

Group of answer choices

Supplemental payments

Separation of insureds

Subrogation provision

Medical payments

Representations and warranties

19. River City Gallery owns their building on J Street. River City purchased a Commercial General Liability Policy with no endorsements. All of the following claims would typically be covered under the policy except which one?

Group of answer choices

A customer is injured after falling on a slippery floor at the gallery

An artist sues the gallery for slander after an employee of the gallery said the artist's work looks like it was painted by a monkey

An employee accidentally starts a fire that causes extensive damage to the Gallery’s building

A customer is injured when a painting falls from the wall and strikes the customer

An employee damages a customer’s car while loading a painting into the vehicle

Alpha Graffix is insured by a commercial general liability policy (CGL). They rent a storage facility to house printing materials. While visiting the storage facility, an Alpha employee starts a fire at the facility while laminating materials injuring himself and causing damage to the facility. Which statement is true regarding coverage under the CGL?

Group of answer choices

There is no coverage for the facility because property damage liability is excluded

There is no coverage for the facility as the damage occurred at a rented premise

There is no coverage for the facility because an employee of Alpha caused the loss

There is coverage for the facility subject to policy limits/sublimits

The employee injury is covered as the bodily injury occurred off site

Answer 1

17. Answer

Record the details of the claim, notify the insurance company, cooperate in the investigation

Investigate the claim and notify the insurance company if it is a large potential loss

Record the details of the claim and notify your attorney to begin structuring legal defense

Notify the insurance company and try to settle with the claimant directly for a lesser amount

18. Answer

Subrogation provision

19.Answer

An artist sues the gallery for slander after an employee of the gallery said the artist's work looks like it was painted by a monkey

An employee damages a customer’s car while loading a painting into the vehicle

20. Alpha Graffix - Answer

There is coverage for the facility subject to policy limits/sublimits

The employee injury is covered as the bodily injury occurred off site