Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
8 Cards in this Set
- Front
- Back
What are common off premises coverages? |
Temporary locations; Sales representative; |
|
How can the off premises coverages be added? |
By endorsement or added on declaration page of broad form. |
|
When is equipment or stock considered at a temporary location? |
It is at a location not specified on the policy; It is not at a location owned, rented or controlled by insured. |
|
Who might request "contents at a newly acquired location" coverage? |
Businesses who display merchandise at exhibitions or trade shows may request this coverage if they rent or control their area. |
|
Where does the salesman samples floater cover property losses? |
In transit |
|
What property does the instalment sales contract floater provide named perils coverage on? |
- Property sold under written deferred payment or conditional sale - Property loaned, leased or rented out for an agreed number of days. |
|
What does the peak season endorsement insure? |
-Predictable increases in stock values for seasonal businesses |
|
What are the conditions must be met for payout of the replacement cost endorsement? |
a) replacement has been made with due diligence and and dispatch b) replacement shall be on same or adjacent site c) payment for replacement shall be made after replacement is complete |