Exam topics

Property, casualty, contract, and Texas-specific concepts in the published outline.

Showing 181–190 of 280 articles · Page 19 of 28

How Insurance Risk Pooling WorksInsurance risk pooling combines exposures from many policyholders so that the group’s losses can be estimated and funded more predictably than one per…
Risk Retention vs. Risk Transfer in InsuranceRisk retention means a person or business keeps financial responsibility for some or all of a potential loss. Risk transfer means another party, usual…
Valuable Papers and Records CoverageValuable papers and records coverage can pay eligible costs to research, reproduce, or restore business documents and records damaged by a covered cau…
Business Personal Property Away from PremisesA commercial property policy may extend limited coverage to business personal property temporarily away from a described premises, but the extension’s…
Warranties vs. Representations in InsuranceA representation is a statement of fact made in connection with an insurance application or contract; a warranty is a promise or condition whose legal…
Who Is Insured Under a CGL PolicyA commercial general liability (CGL) policy does not insure everyone connected to a business. The declarations identify the named insured, while the p…
Policy Territory in Commercial General Liability InsuranceA CGL policy’s coverage territory defines the geographic scope of specified coverage grants and related conditions. A claim involving a U.S. business …
Claims-Made Coverage, Retroactive Dates, and Reporting PeriodsA claims-made policy generally responds when a claim is first made against an insured during the policy period and reported as the policy requires, su…
Compensatory vs. Punitive Damages in Liability InsuranceCompensatory damages are intended to compensate a claimant for proven harm; punitive damages, called exemplary damages in Texas statutes, are intended…
The Separation of Insureds Clause in CGL InsuranceA separation-of-insureds clause tells an insurer to apply specified policy terms to each insured separately, subject to stated exceptions. It helps an…