La Property And Casualty Insurance Exam Stud Guide

Commercial Section 3 {Ans: Limits of Insurance General Aggregate Limit- the most will pay for coverage A,B, & C Product Competed Operations Aggr. limit-most will pay for losses under Cov. A Personal &Advertising Injury limit-most will pay under Cov. B Per Occurrence limit-most will pay under Cov. A and cov C Medical Expense limit-most will pay under Cov. C}Personal Auto Policy- Part A {Ans: Liability pay damages for bodily or property for which insured became responsible settle claims all defense cost bail bond ($250) $200 a day for loss of wages split limit- bodily limit per person/bodily limit per accident/property damage combined single limit- maximum aggregate per accident for bodily and property}Commercial Supplementary Payments {Ans: apply only to coverage A and B and pain in addition to any applicable limit of liability includes all claim related expenses of for insurer, all cost of bail up to $250, cost of bond for attachment, all expenses by insured , court cost, payment for prejudgment interest, Supplementary payments DO NOT reduce limits of insurance provided}Commercial Special Form--causes of loss {Ans: provides coverage for risk of direct physical loss unless excluded (OPEN PERIL) exclusions- damage to steam boiler, interior by