CCDC 21 - Part 1

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Which type of insurance policy provides coverage in excess of the listed Automobile Policy?

Standard Excess Automobile Policy (Third Party Liability) (correct)

CGL

Builders' Risk Broad Form Property Insurance

Umbrella Liability

What is the recommended minimum limit for General Liability insurance in Canada?

$50 million

$25 million

$10 million

$15 million (correct)

What is the term used to describe a relatively broad form of insurance that is subject to specific exclusions?

Umbrella Liability

CGL

Builders' Risk Broad Form Property Insurance

All Risks (correct)

Which clause in the Builders' Risk Broad Form Policy CCDC Endorsement specifies that all Contractors and/or Subcontractors are added as Additional Insureds?

Additional Insured Clause Signup and view all the answers

When does exposure to damage commence for a construction project covered by Builders' Risk Broad Form property insurance?

At the delivery of materials Signup and view all the answers

Which of the following best describes the purpose of this guide?

To explain the types of insurance commonly used on construction projects Signup and view all the answers

Who should users consult to obtain professional advice on construction insurance?

Their insurance representatives Signup and view all the answers

What are the policies and amounts stipulated in the CCDC standard contract forms?

Recommended minimum coverages Signup and view all the answers

What is the main difference between insurance policies and surety bonds?

Insurance policies involve two parties, while surety bonds involve three parties Signup and view all the answers

Can Contractors insure beyond the policies and minimum limits outlined in the contract documents?

Yes, they can Signup and view all the answers

Which of the following is NOT a type of liability covered by the policy?

Completed Operations Signup and view all the answers

Who does the policy insure, in addition to the Named Insureds?

Executive officers Signup and view all the answers

What is the coverage territory of the insurance policy?

Canada and the United States Signup and view all the answers

How long is the Completed Operations coverage provided by the policy?

6 years Signup and view all the answers

What is an exclusion of the Commercial General Liability Policies?

All of the above Signup and view all the answers

Which of the following is NOT typically covered under most CGL policies?

Coverage for pollution liability Signup and view all the answers

What is the definition of 'product' in CGL policies?

Any goods or products manufactured, sold, handled, distributed, or disposed of by the Insured or others trading under the Insured's name Signup and view all the answers

Which of the following is NOT excluded under most CGL policies?

Damage to property caused by Subcontractor's work Signup and view all the answers

When should Contractors consult their insurance representative regarding professional services or advice?

Before performing any design work or other services that are customarily done by professionals Signup and view all the answers

What do Umbrella Liability policies provide coverage for?

Claims for bodily injury and property damage Signup and view all the answers

Which of the following best describes a performance bond?

A guarantee by the Surety for the performance of a contract by the Principal for the Obligee Signup and view all the answers

What is the main difference between insurance and surety bonds?

Insurance is based on the risk-spreading principle of underwriting, while surety bonds are effectively credit instruments Signup and view all the answers

What is the purpose of a Commercial General Liability Policy?

To insure liability imposed by law or assumed under contract for injury to persons and damage to or destruction of property belonging to others arising from the Contractor’s activities Signup and view all the answers

What is the purpose of the CCDC Endorsement for a Commercial General Liability Policy?

To add the Owner and the Consultant as Insureds with respect to liability arising out of the operations of the Contractor with regard to the Work Signup and view all the answers

What is the purpose of the Blanket additional insured coverage available from some insurers?

To provide additional insured coverage for multiple projects under a single policy Signup and view all the answers

True or false: If the Owner or Contractor purchases Umbrella Liability, that policy needs to be reviewed to make sure that the Contractors Endorsement provides coverage as broad as the CGL.

True Signup and view all the answers

True or false: A 'Standard Excess Automobile Policy (Third Party Liability)' provides coverage in excess of the listed Automobile Policy.

True Signup and view all the answers

True or false: The limit stipulated for General Liability insurance in CCDC 41 is the recommended minimum that should be required by Owners of construction projects.

True Signup and view all the answers

True or false: Judgments for crippling personal injuries in Canada have exceeded $15 million.

True Signup and view all the answers

True or false: Builders’ Risk Broad Form property insurance provides coverage in excess of the listed Automobile Policy.

False Signup and view all the answers

CCDC 21 - Part 1

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Questions and Answers

Which type of insurance policy provides coverage in excess of the listed Automobile Policy?

What is the recommended minimum limit for General Liability insurance in Canada?

What is the term used to describe a relatively broad form of insurance that is subject to specific exclusions?

Which clause in the Builders' Risk Broad Form Policy CCDC Endorsement specifies that all Contractors and/or Subcontractors are added as Additional Insureds?

When does exposure to damage commence for a construction project covered by Builders' Risk Broad Form property insurance?

Which of the following best describes the purpose of this guide?

Who should users consult to obtain professional advice on construction insurance?

What are the policies and amounts stipulated in the CCDC standard contract forms?

What is the main difference between insurance policies and surety bonds?

Can Contractors insure beyond the policies and minimum limits outlined in the contract documents?

Which of the following is NOT a type of liability covered by the policy?

Who does the policy insure, in addition to the Named Insureds?

What is the coverage territory of the insurance policy?

How long is the Completed Operations coverage provided by the policy?

What is an exclusion of the Commercial General Liability Policies?

Which of the following is NOT typically covered under most CGL policies?

What is the definition of 'product' in CGL policies?

Which of the following is NOT excluded under most CGL policies?

When should Contractors consult their insurance representative regarding professional services or advice?

What do Umbrella Liability policies provide coverage for?

Which of the following best describes a performance bond?

What is the main difference between insurance and surety bonds?

What is the purpose of a Commercial General Liability Policy?

What is the purpose of the CCDC Endorsement for a Commercial General Liability Policy?

What is the purpose of the Blanket additional insured coverage available from some insurers?

True or false: If the Owner or Contractor purchases Umbrella Liability, that policy needs to be reviewed to make sure that the Contractors Endorsement provides coverage as broad as the CGL.

True or false: A 'Standard Excess Automobile Policy (Third Party Liability)' provides coverage in excess of the listed Automobile Policy.

True or false: The limit stipulated for General Liability insurance in CCDC 41 is the recommended minimum that should be required by Owners of construction projects.

True or false: Judgments for crippling personal injuries in Canada have exceeded $15 million.

True or false: Builders’ Risk Broad Form property insurance provides coverage in excess of the listed Automobile Policy.

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