Which of the following is true regarding “drop-down” coverage that pays claims for which the underlying commercial liability policies do not provide coverage, regardless of aggregate limits? I. It is provided by commercial excess liability insurance. II. It is provided by ...

I. It extends workers’ compensation coverage for types of employment typically exempt from statutorily mandated coverage. II. It allows the employer to have the insurer pay benefits in excess of those required by statute in cases of severe work-related injuries.

Workers compensation statutes apply to virtually all industrial workers and to most other kinds of private employment. However, there are a few exceptions to the requirement to have workers’ compensation coverage. Which of the following is NOT an exception? (A) Casual ...

(A) Workers Compensation is governed by a system of laws that vary from state to state. (B) A federal system that assures uniformity across the country governs workers’ compensation insurance. (C) Workers Compensation is an exclusive remedy that effectively shields ...

The owner, who also is the landlord, of an office building has Premises and Operations coverage under a Commercial General Liability (CGL) policy with a general aggregate limit of $5 million. The policy does not contain a Products and Completed ...

Chip is a volunteer worker at his church’s mid-week adult daycare facility. He accidentally spilled hot coffee on one of the elderly participants, Mary. After being treated for third-degree burns, Mary sued both the church and Chip for damages resulting ...

I. Such payments are in addition to the policy limits. II. Such payments are used to pay for court costs. III. Such payments are used to pay for prejudgment interest on amounts awarded to the plaintiff. (A) I only. (B) II ...