This Study Guide has been prepared to enhance your learning experience. It contains all of the Check-In questions, Knowledge Checks, and Self-Quizzes contained within the course, along with an Answer Key and Glossary. Use it as a tool to help practice and assess your knowledge of the course material, but do not mistake it for a comprehensive “short-cut” to preparing for the final exam.
Be sure to take a look at the Appendix that follows the Answer Key in this Study Guide. It contains valuable suggestions for test preparation and study techniques, as well as some sample exam questions and a glossary of terms.
Your path to success in passing the final exam will come from your attentiveness during the course and the effort you put into preparation.
Study Set
Use this study set to review digital flashcards and play interactive vocabulary games for the insurance & risk management terms found in the glossary of this course!
Review Game
Use this trivia-style review game to test your knowledge prior to taking the final exam for this course!
Section 1 – Essentials of Legal Liability
Sources of Liability
The video below will introduce you to the major categories of legal liability exposures.
Negligence
The video below explains the elements that are necessary in determining negligence.
Intentional Torts
The video below demonstrates an example of intentional torts.
Section 2 – Commercial General Liability
Structure of the CGL Policy
The video below outlines the components of a complete Commercial General Liability policy.
Coverage A – Indemnification Agreements
The video below explains how liability is transferred within different indemnification agreements.
Coverage A – Contractual Liability Exclusion
The video below will explain the types of contracts that meet the definition of an “insured contract,” and are, therefore, exceptions to Exclusion b.
Coverage A – Pollution Exclusion
The video below explains the intent and exceptions to Exclusion f.
Coverage A – Damage to Property Exclusion
The video below demonstrates how Exclusion j. is applied.
Coverage A – Damage to Impaired Property Not Physically Injured Exclusion
The video below explains what it means for property to be impaired but not physically injured.
Coverage B – Using Another's Advertising Idea
The video below demonstrates how a business might intentionally use other companies’ ideas within their advertising.
Coverage B – Knowledge of Falsity Exclusions
The video below demonstrates how Exclusions a. and b. are applied.
Coverage C – Medical Payments
The video below describes the intent and application of Coverage C.
Damage to Premises Rented by You
The video below explains how a special sublimit provides limited coverage for property that would otherwise be excluded in Coverage A.
Application of Coverage Issues
The video below demonstrates how the various CGL limits are applied in a claim.
Section 3 – Additional Insureds and the CGL Policy
Vicarious Liability
The video below provides an example as to how one business may be held vicariously liable for the actions of another business.
Importance of Additional Insureds
The video below demonstrates why a business may insist on being granted Additional Insured status on someone else’s CGL policy.
Problems with Additional Insured Status
The video below explains the potential coverage gaps and defense conflicts that are created through the use of Additional Insured endorsements.
