Amynta Property Policy - Quiz 2

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Questions and Answers

A business experiences a loss of their master key. According to the policy, what is the maximum coverage limit available for this loss?

  • $5,000
  • $10,000
  • $25,000 (correct)
  • $50,000

What characterizes a "Green standards-setter" as defined within the insurance policy?

  • An organization that develops guidelines and benchmarks for energy efficiency and sustainable business practices. (correct)
  • A department within the government tasked with ensuring compliance with tax laws.
  • An organization responsible for setting and enforcing workplace safety regulations.
  • A government body that monitors financial market activities.

Following an insured event, a business incurs expenses aimed at preventing further losses. What is the maximum coverage provided under the policy for such Loss Prevention Expenses?

  • $2,500
  • $10,000
  • $25,000
  • $5,000 (correct)

An employee uses a company-provided cell phone for business purposes 150 feet away from the office. Under the policy, how would this property be classified?

<p>Mobile Communication Property. (B)</p>
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A business utilizes mobile communication devices for operations conducted off-site. What is the maximum coverage limit available under the policy for Mobile Communication Property?

<p>$10,000 (B)</p>
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A business's lease is canceled due to a covered cause of loss, leading to financial setbacks. How does the policy define the financial loss sustained in this scenario?

<p>Net Leasehold Interest. (C)</p>
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Following a covered loss, a business needs to engage professional services to prepare the loss claim for both building and personal property. What is the policy's coverage limit for these Preparation of Loss Fees?

<p>$25,000 (C)</p>
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In the context of Equipment Breakdown Coverage, how is 'One Breakdown' defined?

<p>An initial breakdown and all subsequent related breakdowns stemming from the same cause and occurring at the same time. (D)</p>
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An auto dealership uses tents for promotional events on their lot. Under the Auto Dealers Amendatory Endorsement, what is the coverage limit for damage to these tents?

<p>$15,000 (A)</p>
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A chemical spill occurs at an insured property. How does the policy define the spilled substances for coverage consideration?

<p>As irritants or contaminants, regardless of their functional role within the business. (A)</p>
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An insured fails to pay their premium, leading to policy cancellation. According to the policy, how many days' notice must the insurer provide before canceling the policy?

<p>10 days (C)</p>
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An insurer decides to cancel a policy in Missouri for a reason other than nonpayment or arson. How many days' notice are they required to provide to the insured?

<p>30 days (A)</p>
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A company's equipment breaks down, and they seek coverage under the Equipment Breakdown Coverage Part. In which geographical areas is this coverage effective?

<p>Within the United States, Puerto Rico, and Canada. (D)</p>
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A business expands, acquiring a new building. What is the maximum limit of coverage available for these Newly Acquired or Constructed Property - Buildings?

<p>$2,000,000 (A)</p>
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Following the acquisition of a new property, for how long does the policy provide coverage for Newly Acquired or Constructed Property?

<p>90 days (C)</p>
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A business suffers a loss of income due to an event at an exhibition. What is the maximum coverage limit under the policy for Business Income at Any Other Location?

<p>$25,000 (A)</p>
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A civil authority restricts access to a business premises, causing a loss of income and extra expenses. What is the coverage period for Civil Authority (Business Income / Extra Expense) under the policy?

<p>Four weeks (A)</p>
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An auto dealership experiences a business income loss after a covered event. Under the Auto Dealers Amendatory Endorsement, what is the maximum duration for Extended Business Income coverage?

<p>60 days (B)</p>
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A covered event obstructs access to a business, leading to income loss. What is the policy limit for losses relating to Ingress and Egress coverage?

<p>$50,000 (C)</p>
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A building suffers damage from fungus or dry rot. According to the policy, what is the annual aggregate limit for Fungus, Wet or Dry Rot related damages?

<p>$15,000 (A)</p>
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An auto dealership uses a detached trailer not owned by the dealership. What is the coverage limit for Non-owned Detached Trailers?

<p>Subject to $1,000,000 Basket Aggregate (D)</p>
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Consider an auto dealership experiencing damage to outdoor property. Under the Auto Dealers Amendatory Endorsement, what is the coverage limit?

<p>Subject to $1,000,000 Basket Aggregate (B)</p>
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A customer's personal belongings are damaged while on the business premises. What is the policy's coverage limit for Personal Effects and Property of Others at the described premises?

<p>$5,000 (D)</p>
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A business incurs penalties due to contractual obligations following a covered loss. What is the coverage limit for Contractual Penalties (Business Income / Extra Expense)?

<p>$25,000 (D)</p>
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A business experiences a loss of electronic data. What is the annual aggregate limit specified in the policy for Electronic Data?

<p>$2,500 (B)</p>
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A barn on the insured property, not used for commercial purposes, is damaged. What is the coverage limit for Appurtenant Buildings under the policy?

<p>$100,000 (D)</p>
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A business experiences a loss of income due to damage at a dependent business premises. What is the coverage limit for Dependent Business Premises (Business Income / Extra Expense) under the policy?

<p>$100,000 (A)</p>
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A business transports electronic data processing equipment and media. What is the coverage limit specified in the policy for Electronic Data Processing Equipment and Media (in transit)?

<p>$50,000 (A)</p>
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To prevent further loss from a covered peril, property is moved to a temporary location. According to the policy, what is the time limit of coverage for Preservation of Property at the temporary location?

<p>30 days (D)</p>
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According to the Common Policy Declarations, what is the amount listed for Missouri State Tax?

<p>$635.00 (C)</p>
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Based on the Common Policy Declarations, what is the listed charge for the Surplus Lines Filing Fee?

<p>$635.00 (D)</p>
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Who is designated as the authorized representative for endorsing policy changes?

<p>Shawn Ellis (C)</p>
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What form number is used for the Policyholder Notice concerning non-admitted business?

<p>CNA88012XX (C)</p>
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A business needs to report a new claim under the policy. What is the correct email address for submitting this claim?

<p><a href="mailto:[email protected]">[email protected]</a> (D)</p>
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A policyholder has a general question about a claim. What is the correct toll-free phone number to call for claims inquiries?

<p>(866) 830-2383 (C)</p>
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An emergency responder charges a fee for services. What is the coverage limit for Emergency Responder Service Charge?

<p>Subject to $1,000,000 Basket Aggregate (B)</p>
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A business experiences an interruption of computer operations, resulting in a loss of income and extra expenses. What is the coverage limit for Interruption of Computer Operations (Business Income / Extra Expense)?

<p>$2,500 annual aggregate (D)</p>
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Under the Auto Dealers Amendatory Endorsement, what is the coverage limit for Property Off-Premises?

<p>$25,000 (A)</p>
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A business experiences a loss of income and extra expense at a newly acquired location. What is the coverage limit for Newly Acquired Locations (Business Income / Extra Expense)?

<p>$250,000 (B)</p>
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A business needs to transport electronic data processing equipment. What is the coverage limit for Electronic Data Processing Equipment and Media, aside from transit or trade shows?

<p>$75,000 (A)</p>
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Flashcards

Loss of Master Key Limit

Coverage limit for Loss of Master Key is $25,000.

"Green standards-setter"

An organization producing guidelines for energy efficiency and sustainable practices.

Loss Prevention Expense Limit

Coverage limit for Loss Prevention Expense is $5,000.

"Mobile Communication Property"

Property used for communication more than 100 feet from the described premises.

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Mobile Communication Limit

Coverage limit for Mobile Communication Property is $10,000.

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"Net Leasehold Interest"

The loss sustained due to lease cancellation caused by a Covered Cause of Loss.

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Loss Prep Fees Limit

Coverage limit for Preparation of Loss Fees for Building and Personal Property is $25,000.

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"One Breakdown"

An initial breakdown and all related breakdowns at the same time and cause.

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Tent Coverage Limit

Coverage limit for Tents under the Auto Dealers Amendatory Endorsement is $15,000.

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"Pollutants"

Irritants or contaminants, whether or not they have a function in the business.

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Cancellation Notice (Nonpayment)

The notice period for cancellation due to nonpayment of premium is 10 days.

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Cancellation Notice (Other)

The notice period for cancellation for reasons other than nonpayment or incendiarism in Missouri is 30 days.

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Equipment Breakdown Territory

The coverage territory for the Equipment Breakdown Coverage Part is United States, Puerto Rico, and Canada.

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New Building Limit

The limit for Newly Acquired or Constructed Property - Buildings is $2,000,000.

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New Property Coverage Period

The period of coverage for Newly Acquired or Constructed Property is 90 days.

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Business Income Limit (Exhibition)

The limit for Business Income at Any Other Location (exhibition, fair, or trade show) is $25,000.

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Civil Authority Coverage

The coverage limit for Civil Authority (Business Income / Extra Expense) is Four weeks.

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Extended Income Limit

The limit for Extended Business Income under the Auto Dealers Amendatory Endorsement is 60 days.

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Ingress/Egress Limit

The limit for Ingress and Egress coverage is $50,000.

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Fungus/Rot Limit

The annual aggregate limit for Fungus, Wet or Dry Rot is $15,000.

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Non-Owned Trailers Limit

The limit for Non-owned Detached Trailers is Subject to $1,000,000 Basket Aggregate.

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Outdoor Property Limit

The limit for Outdoor Property under the Auto Dealers Amendatory Endorsement is Subject to $1,000,000 Basket Aggregate.

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Personal Effects Limit

The limit for Personal Effects and Property of Others at the described premises is $5,000.

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Contract Penalty Limit

The limit for Contractual Penalties (Business Income / Extra Expense) is $25,000.

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Electronic Data Limit

The limit for Electronic Data annual aggregate is $2,500.

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Appurtenant Buildings Limit

The limit for Appurtenant Buildings is $100,000.

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Dependent Business Limit

The coverage limit for Dependent Business Premises (Business Income / Extra Expense) is $100,000.

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Data Transit Limit

The limit for Electronic Data Processing Equipment and Media (in transit) is $50,000.

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Property Preservation

The limit for Preservation of Property is 30 days.

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Missouri State Tax

The Missouri State Tax amount listed in the Common Policy Declarations is $635.00.

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Surplus Lines Fee

The Surplus Lines Filing Fee listed in the Common Policy Declarations is $635.00.

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Policy Changes Rep

The authorized representative for the Policy Changes endorsement is Shawn Ellis.

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Non-Admitted Form Number

The form number for the Policyholder Notice regarding non-admitted business is CNA88012XX.

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New Claim Address

The address for reporting a new claim under the policy is [email protected].

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Claims Inquiry Number

The toll-free phone number for general claims inquiries is (866) 830-2383.

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Emergency Responder Limit

The coverage limit for Emergency Responder Service Charge is Subject to $1,000,000 Basket Aggregate.

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Computer Interruption Limit

The coverage limit for Interruption of Computer Operations (Business Income / Extra Expense) is $2,500 annual aggregate.

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Off-Premises Limit

The limit for Property Off-Premises under the Auto Dealers Amendatory Endorsement is $25,000.

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New Location Limit

The coverage limit for Newly Acquired Locations (Business Income / Extra Expense) is $250,000.

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Data Equipment limit

The coverage limit for Electronic Data Processing Equipment and Media (other than in transit or at an exhibition) is $75,000.

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Study Notes

Coverage Limits

  • Loss of Master Key: $25,000.
  • Loss Prevention Expense: $5,000.
  • Preparation of Loss Fees for Building and Personal Property: $25,000.
  • Tents under the Auto Dealers Amendatory Endorsement: $15,000.
  • Mobile Communication Property: $10,000.
  • Business Income at Any Other Location (exhibition, fair, or trade show): $25,000.
  • Civil Authority (Business Income / Extra Expense): Four weeks.
  • Extended Business Income under the Auto Dealers Amendatory Endorsement: 60 days.
  • Ingress and Egress coverage: $50,000.
  • Fungus, Wet or Dry Rot (annual aggregate limit): $15,000.
  • Personal Effects and Property of Others at the described premises: $5,000.
  • Contractual Penalties (Business Income / Extra Expense): $25,000.
  • Electronic Data (annual aggregate): $2,500.
  • Appurtenant Buildings: $100,000.
  • Dependent Business Premises (Business Income / Extra Expense): $100,000.
  • Electronic Data Processing Equipment and Media (in transit): $50,000.
  • Emergency Responder Service Charge: Subject to $1,000,000 Basket Aggregate.
  • Interruption of Computer Operations (Business Income / Extra Expense): $2,500 annual aggregate.
  • Property Off-Premises under the Auto Dealers Amendatory Endorsement: $25,000.
  • Newly Acquired Locations (Business Income / Extra Expense): $250,000.
  • Electronic Data Processing Equipment and Media (other than in transit or at an exhibition): $75,000.

Definitions

  • Green standards-setter: An organization or agency producing guidelines for energy efficiency and sustainable practices.
  • Mobile Communication Property: Property used for communication more than 100 feet from the described premises.
  • Net Leasehold Interest: The loss sustained due to lease cancellation caused by a Covered Cause of Loss.
  • One Breakdown (Equipment Breakdown Coverage Part): An initial breakdown and all related breakdowns at the same time and cause.
  • Pollutants: Irritants or contaminants, whether or not they have a function in the business.

Cancellation Notice Periods

  • Cancellation due to nonpayment of premium: 10 days.
  • Cancellation for reasons other than nonpayment or incendiarism in Missouri: 30 days.

Coverage Territory (Equipment Breakdown Coverage Part)

  • The coverage territory includes the United States, Puerto Rico, and Canada.

Newly Acquired or Constructed Property

  • Limit for Buildings: $2,000,000.
  • Period of Coverage: 90 days.

Other Limits

  • Non-owned Detached Trailers: Subject to $1,000,000 Basket Aggregate.
  • Outdoor Property under the Auto Dealers Amendatory Endorsement: Subject to $1,000,000 Basket Aggregate.
  • Preservation of Property: 30 days.

Policy Details

  • Missouri State Tax amount listed in the Common Policy Declarations: $635.00.
  • Surplus Lines Filing Fee listed in the Common Policy Declarations: $635.00.
  • Authorized representative for the Policy Changes endorsement: Shawn Ellis.
  • Form number for the Policyholder Notice regarding non-admitted business: CNA88012XX.

Claim Information

  • Address for reporting a new claim under the policy: [email protected].
  • Toll-free phone number for general claims inquiries: (866) 830-2383.

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