11.01. CGL Who Is an Insured Provision

Card Set Information

11.01. CGL Who Is an Insured Provision
2013-04-27 12:50:29
CGL Who an Insured Provision

CGL Who Is an Insured Provision
Show Answers:

  1. 3 types of insureds
    • named insured and related parties
    • named insured's employees and volunteer workers
    • other persons and organisations
  2. Named Insured and Related Parties
    • individual: spouse is an insured too; no coverage for unnamed spouse's business
    • partnership, joint venture, corporation: all partners and their spouse are insured; includes controlling members and managers
    • others: all executive officers, directors and stockholders
  3. Named Insured's Employees and Volunteer Workers Exclusions
    • Bodily Injury and Advertising Injury
    • Professional Healthcare Services
    • Damage to property of Named Insured and Others
  4. Other Persons and Organizations
    • real estate manager
    • legal representatives
    • newly acquired organization (up to 90 days)
  5. Unlisted Partnership, Joint Venture, or LLC
    • coverage does not apply if partnership wasn't listed
    • usually insurer charges and additional premium for those
    • problem for contractors who 1) form temporary partnership 2) can still be liable after partnership ended