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Author Question: Bernice is an underwriter. She is reviewing a commercial crime coverage application. The coverage ... (Read 21 times)

ARLKQ

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on: Jul 11, 2018
Bernice is an underwriter. She is reviewing a commercial crime coverage application. The coverage will be written using the discovery form.
 
  Bernice is concerned that a large undiscovered loss may exist prior to the policy's inception date. Which provision should Bernice add to the policy to protect the insurer against liability for such previous losses?
  A) extended reporting endorsement
  B) loss sustained during prior insurance provision
  C) waiver of inventory provision
  D) retroactive date endorsement

Question 2

Which of the following statements is (are) true with respect to financial institution bonds?
 
  I. Fidelity coverage covers losses resulting from the dishonest acts of employees.
  II. Financial institutions usually insure their crime exposures through financial institutions bonds.
  A) I only
  B) II only
  C) both I and II
  D) neither I nor II
  c


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voltaire123

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Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: D

Answer to Question 2

Answer: C


ARLKQ

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Reply #2 on: Jul 11, 2018
Correct answers!


voltaire123

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Reply #3 on: Jul 11, 2018
Great! Please up vote :D


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