Insurance License Ch. 13

Marine

In transit over land

Open Peril

What does inland marine coverage provide?

Bridges and tunnels

Helps to move property or information so insured under marine

Builders Risk Coverage

Used for buildings in the course of construction

Liability

What is not covered under buildings risk?

90

After construction, how many days does coverage of builders risk end?

Installation Floater

Protection for electrical, plumbing, or heating and air conditoning equipment while being installed

Contractors Equipment Floater

A roofing contractor wants coverage for his tools on his job site

Accounts Receivable Coverage Form

Provides for lost income when accounts receivable are destroyed by a covered peril

Legality

Voyage must be legal and conducted for legal purpose

Seaworhtiness

At time insurance goes into effect - must be in command of an experienced captain and crew at all times

Protection and Indemnity Insurance

Liability for the ship, cargo, and bodily injury

Professional Liability Insurance

Always inform your insurer of a potential claim

Malpractice Insurance

Medical providers such as physicians, nurses and beauticians who cause bodily injury to others

3

How many parties in a bond?

Surety Bond

a guarantee of performance

Fidelity Bond

Guarantees honesty of a certain party