Casualty Insurance Basics Flashcards
6 cards from real Property And Casualty Insurance License practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Casualty Insurance Basics flashcards as text
Which of the following is covered by comprehensive auto coverage?
Answer: Collision with a deer
Comprehensive coverage pays for vehicle damage from causes other than collision, including hitting an animal, theft, vandalism, fire, and weather events.
What does 'medical payments' (MedPay) coverage provide under an auto policy?
Answer: Payment for medical expenses for the insured and passengers regardless of fault
MedPay covers reasonable medical and funeral expenses for the insured and passengers injured in an auto accident, without regard to fault.
A 'garage liability' policy is designed for:
Answer: Auto dealers, repair shops, and service stations
Garage liability covers businesses in the automotive service industry for liability arising from their operations, including customer vehicles in their care.
Under a business auto policy (BAP), 'Symbol 1' means:
Answer: Any auto is covered
Symbol 1 (Any Auto) provides the broadest auto liability coverage, covering the insured for any vehicle used in connection with their business, whether owned, hired, or borrowed.
What is 'hired and non-owned auto' (HNOA) liability coverage?
Answer: Coverage for vehicles the business rents or employees use their personal vehicles for business
HNOA covers the business's liability when employees use rented vehicles or their own personal vehicles while conducting company business.
Which of the following best describes 'professional liability' (E&O) insurance?
Answer: Coverage for claims arising from errors, omissions, or negligent acts in rendering professional services
Professional liability (Errors & Omissions) insurance protects professionals against claims alleging financial harm caused by their mistakes or failure to perform services properly.