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Fundamentals of Risk and Insurance, 11th Edition by Therese M. Vaughan, Emmett J. Vaughan

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CHAPTER OBJECTIVES

When you have finished this chapter, you should be able to

  • Identify and differentiate among the three broad categories into which liability insurance for business firms may be divided
  • Identify the coverage elements in a Workers Compensation and Employers Liability Policy and explain the exposure that each is designed to cover
  • Identify and explain the general liability exposures facing a business
  • Identify the major coverages of a Commercial General Liability Policy
  • Explain the purpose and intent of each of the exclusions in a Commercial General Liability Policy
  • Explain the difference between an occurrence general liability policy and a claims-made liability form
  • Describe the coverages offered in ISO's Information Security Protection Policy
  • Identify and differentiate among the four types of commercial automobile insurance policies
  • Identify and differentiate among the three broad classes of automobiles that may be insured under a Business Auto Policy
  • Explain the liability of a common carrier and explain how this exposure is generally insured
  • Identify and differentiate among the types of bailment and explain the liability associated with each class
  • Explain how bailee liability coverages differ from other forms of liability insurance
  • Describe the characteristics of commercial excess liability policies and commercial umbrella liability policy

The liability exposures ...

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