EXAM 5 26-37

What type of coverage do umbrella policies provide

EXCESS COVERAGE OVER AN UNDERLYING OR PRIMARY POLICY

With regards to the personal auto policy, in the event of a claim or loss, the insured is required to do all of the following EXCEPT

IMMEDIATELY REPORT TO AN EMERGANCY ROOM FOR MEDICAL EXAMINATION

Which of the following statements is NOT true regarding a personal umbrella liability policy

IT PROVIDES ERRORS AND OMISSIONS COVERAGE FOR AN AGENCY

In a personal umbrella policy, the amount paid by the insured for certain losses not covered under the primary coverage is called

SELF-INSURED RETENTION

When an umbrella policy, the amount paid by the insured for certisn losses not covered under the peimary coverge is called

SELF-INSURED RETENTION

Which of the following statements would be correct if an insured failed to maintain the underlying limits as required by a personal umbrella policy The insured would be responsible for the amount required as underlying limits in the event of a claim.

THE INSURED WOULD BE RESPONSIBLE FOR THE AMOUNT REQUIERED AD UNDERLYING LIMITS IN THE EVENT OF A CLAIM

What is the deductible of personal liability umbrella policy called?

THE SIR

When a replacement auto is acquired during the policy period, what coverage will apply to it automatically under a personal auto policy? Whatever coverage applied to the vehicle being replaced

WHATEVER COVERAGE APPLIED TO THE VEHICLE BEING REPLACED

The bankruptey provision found in the personal auto policy states that bankruptcy of the insured? Will not relieve the insurer of its policy obligations

WILL NOT RELIEVE THE INSURER OF ITS POLICY OBLIGATIONS