Principles of Risk Management and Insurance, 13th Edition

Review Questions

1. 1. a. What is a package policy?

   2. Explain the advantages of a commercial package policy to a business firm as compared to the purchase of separate policies.

2. Identify the causes of loss that are covered under the following forms:

   1. Causes-of-loss basic form

   2. Causes-of-loss broad form

   3. Causes-of-loss special form

3. Explain the following provisions in the building and personal property coverage form:

   1. Covered property

   2. Additional coverages

   3. Optional coverages

4. The business income (and extra expense) coverage form has a number of policy provisions. Explain the following provisions:

   1. Business income loss

   2. Coverage of extra expenses

5. Briefly describe the following commercial property insurance coverages:

   1. Builders risk insurance

   2. Condominium insurance ...