Ch.10- Liability Insurance Policies

Question 1

COVERAGE I: LOSS ASSESSMENT (condos)

Answer 1

• ribo pg.24
• insurer pays 250% or higher stated amt
  
  • if limits of corp liability policy inadequate or exhausted

Question 2

COVERAGES (4)

Answer 2

• Coverage E: Personal Liability, pg.18
• Coverage F: Voluntary Medical pmts
• Coverage G: Voluntary pmt for damage to property
• Coverage H: Voluntary compensations for Residence employees

Question 3

Limits of insuracne

Answer 3

• Employers sets own limits
  *

Question 4

Key definitions: Persons insured

Answer 4

• Pg.17
• incls Property coverages (?)
• 4 others:
  
  • ​Persons/Org legally liable for damages caused by watercraft/animals of insured
  • Res employees while use, operation of motorized vehicles + trailers covered
  • Legal rep w/ temp custody of insured prem after insured death
  • Anyone insured who continues to live in prem after insureds death

Question 5

Definitions: Premises insured

Answer 5

1. all prem where persons named as insured, spouse maintains, incl seasonal or toher res. in declarations::
   
   • prem you reside temporarily as long as not:
     
     • owner of prem
     • lessee/tenant of prem more than 90 consecutive days
2. prem in cda to be occupied by u as principal res,acquired not before earliest of:
   
   • 30 consecutive days
   • date policy expires/terminates
   • date lkianility ins arraged
3. family cemetary plots/ burial vaults
4. vacant lans in cda other than farmland (in cda)
5. land in cda where contractor building

Question 6

Coverage E: Personal liability

Answer 6

• ensures legal liability of insured anywhere in world
  
  • accidental damage/injury on prem or while on holiday, etc..
  • condition of prem + activities conducted are major source of liability claims

Question 7

Coverage E: Personal Liability- EXCLUSIONS

Answer 7

EXCLUSIONS:
​NOT INSURED:

1. liability assumed by contract unless legal liability would have applied

• 2 exceptions:
  
  • insured would have been liable anyway
  • liability being assumed related to insureds prem

2. Damage to property owned by insured
   * accidental-> sect.1 pays
3. Damage to property used , occupied, leased/rented by in care, custody, control of insured -> exept unintentional property damage

• caused by fire, explosion, water damage/smoke(sudden, unusual, faulty operation of heating/cookig device)
• water damage same as sect.1
• Exceptions?

4. damage to personal property/Fixtures as result of work done on them
5. Bodily injury to you/Any person in your household other than res employee (usually not req to be insured)
6. Legal actions of named insured not residing on prem

• Insuer pays all costs associated w/ defence/ settlement eben if claims groundless/without merit
• also pays
  
  • all expenses incurred
  • costs charged against insured under sect.E personal liability
  • intrest accruing after judgement
  • premiums for appeal bonds req./ bonds to release property being held
  • emergency medical aid after accident/occurence insured
  • reasonable exp, incl losss of income ($100/day)

Question 8

Coverage F: Voluntary medical payments

Answer 8

• payment of med exp when insured unintentionally injures someone
  
  • not req to be legally liable
  • amt limited
  • within 1 year from date of accident

Question 9

Coverage G: Voluntary payment for damage to property

Answer 9

• insurer pays for property damage:
  
  • unintetionaly caused + would not be legally liable
  • intentionally caused by insureds 12 yrs or under ($500/ occ)

Exclusions:

• dmaage to property you/tenants own/rent
• damage to property insured under sect. 1
• claims from loss of use, dissapearence of, theft of property

Question 10

Coverage H: Voluntary compensation for res. employees

Answer 10

• provides all occasional residence employees w/ limited benefits
• Seperate schd of benefits:
  
  • loss of life inc funeal
  • temporary/permannent total disability
  • injury benefits
  • medical exp
• ribo pg.21: must sign release to not sue insured

Question 11

Watercraft/Motorized vehicle OWNED

Answer 11

• Automatically covered
  
  1. watercraft incl attachments w/ outboard motors (12kw/16hp)
  2. watercraft w/ any other motor (38kw/50HP)
  3. Non motorized watercraft- 8metres (26ft) in length
  • newly acquired watercraft above (out of limitations) auto covred for 30 days till get coverage
    
    4. self propelled lawn mowers, snow blowrs, garden type tractors
    5. Motorized golf carts wbile in use on golf course (accidents ON golf course)
    6. Motorized wheelchairs/scooters designed to carry ppl w/ disability

Question 12

Watercraft/Motorized vehicles NOT ONWED

Answer 12

Insured against claims arising out of use/operation of:

• watercraft
• self propelled land vehicle not subject to vehicle registratin

not owned by oerson insured by policy

coverage for injury/damage from use /operation- nocoverage for damage to watercraft

NOT INSURED while:

• used to carry passengers for $
• for business
• in race/speed test
• rented out
• used/operated w/o owners consent

Question 13

trailers

Answer 13

insert pic

Question 14

Business and business property

Answer 14

• s/b covered under commercial liability policy

EXCEPTIONS:

• personal actions during course of trade, profession, occupation NOT related directly to trade/prof/occ (i.e golf game)
• occasional rental to others of part of dwelling you occupy
• rental to others of portions of 2,3 family dwelling
• rental space in res to other for office, school, studio, etc
• rental to others/ holding for rent of np oret hen 3 car spaces
• busness of insured under 21
  *