Unit 6 Quiz

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The basic amount of Medical Payment coverage under a CGL policy is:

$5,000

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

How long does the insured have to request the "Supplemental Extended Reporting Period" after the expiration of the claims made CGL policy?

60 days

Physicians, Surgeons, and Dentists Insurance will cover:

All of these -Veterinarians -Optometrists -Blood Banks

The retroactive date under the CGL established the earliest date a claim will be paid by the insurance company under the:

Claims-Made Policy

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

Which of the following is not a covered territory for a CGL policy?

Mexico

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 injury on 9-1-05. Which policy covers?

Neither policy covers

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

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

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


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