Mr. Smith buys a CGL claims-made policy on 1-1-04 with a retroactive date on the policy's inception of 1-1-04. He buys another CGL claim's-made policy on 1-1-05 with a retroactive date of 1-1-05. An accident occurs on 7-1-04 and the claimant files this in
Neither policy covers
The basic amount of Medical Payment coverage under a CGL policy is:
$5,000
Physicians, Surgeons, and Dentists Insurance will cover:
All of these
-Veterinarians
-Optometrists
-Blood Banks
What is unique about lawyer's professional liability insurance?
It deducts claims expenses first and the balance is payable for the claim
All of the following are covered under Supplemental Payments in a CGL EXCEPT:
Lost wages up to $100/day
How long does the insured have to request the "Supplemental Extended Reporting Period" after the expiration of the claims made CGL policy?
60 days
Which of the following is not a covered territory for a CGL policy?
Mexico
An employee is hurt on the insured's premises. Three months later the employee dies. Are the employees funeral expenses covered under the company's CGL Medical payments?
No, employees are not covered for Med Pay
Tom purchases a CGL- Occurrence form with an effective date of 1-1-03. he purchases a claims-made CGL with an effective date of 1-1-04. An injury from 8-1-03 is filed in 2005 when a claim is made. Which policy covers the injury?
1-1-03 policy
The retroactive date under the CGL established the earliest date a claim will be paid by the insurance company under the:
Claims-Made Policy
Acme Toys has a CGL policy. They hold a party and one of the guests has a little too much to drink. If the guest injures someone and the injured party sues the Acme Toys, the CGL policy
Will cover the claim
A claim is made under a CGL for a slip and fall injury. Two years later the injured person comes back saying the injury has flared-up. Is the reoccurrence covered under CGL Medical Payments?
No, expenses are covered within one year of the injury