Practice Quiz: #39

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Question 1 of 3

1. Question

Claims-made general liability coverage does not apply to bodily injury or property damage that occurs when?

On the policy's retroactive date
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Before the policy's retroactive date
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After the policy's retroactive date
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Before the effective date, if there is no retroactive date
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Question 2 of 3

2. Question

Under liability insurance policies, what does an “aggregate limit” mean?

It is the most the insurer will pay for any one accident.
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It is the most the insurer will pay for all losses during any one policy period.
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It is the maximum limit for each claim when multiple claimants are arising out of the same occurrence.
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It is the single largest limit that applies when a loss is covered by two or more policies issued by the same insurer.
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Question 3 of 3

3. Question

The purpose of FAIR Plans (Fair Access to Insurance Requirements) is to do what?

Give the federal government a major role in providing insurance
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Make property insurance available to risks that were otherwise considered uninsurable because of environmental hazards
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Require complete disclosure of the reasons for policy cancellations
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Force all insurance companies to participate in an insurance pool
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