1. (TCO 9) Protection and Indemnity coverage provided under Ocean Marine policy

Question

1. (TCO 9) Protection and Indemnity coverage provided under Ocean Marine policy covers: (Points : 3)
damage to the ship or its cargo.
damage to the cargo only.
essentially the same thing as business interruption insurance.
legal liability.
none of the above.


2. (TCO 9) The Annual Transit policy: (Points : 3)
is designed to cover only shipments of goods on the insured's own trucks.
is usually written on an open-peril basis.
covers goods shipped by common carrier, contract carrier, or on the insured's own trucks.
normally excludes the perils of transportation.
none of the above.


3. (TCO 9) The Inside the Premises Theft of Money and Securities insuring agreement: (Points : 3)
covers money and securities on an open-peril basis.
includes coverage for employee infidelity.
covers insured property only while on premises.
usually contains an 80% coinsurance clause.
none of the above.


4. (TCO 9) Extra expense insurance covers: (Points : 3)
the loss of profits during a period of shutdown.
those normal expenses that continue during a period of shutdown or interruption.
salaries of key employees.
unusual expenses required to continue operations following damage to owned property caused by an insured peril.
none of the above.


5. (TCO 9) For which of the following is coverage automatically included in the Commercial General Liability policy? (Points : 3)
Officers

Explanation / Answer

c

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