Ains 103 Exploring Commercial Insurance Study Guide Graded A+

The insurance agent advised the owners of Perfect Dry Cleaning that bailees' customers polices cover {Ans: Both legal liability exposure and goodwill exposure}Due to the difficulty in determining the maximum possible loss for liability claims, insureds need {Ans: Excess limits provided by an excess or umbrella liability policy}The Workers Compensation and Employers Liability Insurance Policy provides that the insured will reimburse the insurer for which one of the following? {Ans: Penalties required under a workers compensation law because of noncompliance with health and safety laws and regulations}Which one of these offenses would NOT be considered a personal and advertising injury under Coverage B of the Commercial General Liability Coverage Form? {Ans: Refusing to hire a qualified job applicant because of his ethnicity}Meat Products Company (MPC) runs packing plants in three Midwest states. The company was in the news recently because of its labor practices. The Department of Labor (DOL) investigated complaints from five female employees that MPC discriminated against them. The DOL found the claim was true. The Immigration and Naturalization Service (INS) found that the company employed illegal immigrants and paid them less than the minimum wage. When this news became public, MPC's reputation was