640 Class 16 Outline

640 Class 16 Outline - Class 16 Outline Business Finance...

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Class 16 Outline Business Finance 640 - Insurance and Risk Winter Quarter, 2008 1 In this class, we turn our discussion of the homeowners policy to an examination of Section II liability coverages, as found in the HO 3 of the Insurance Services Office. Once again, the sample HO-3 policy in the Appendix to the text will be referred to frequently in our discussion. We will use it to illustrate the major coverages, exclusions and conditions of Section II. We will also review several of the endorsements that can be added to the homeowners policy to tailor coverage to meet individual needs. I. Personal Liability Insurance A) Insuring Agreements of Section II 1. Coverage E—personal liability—has a single limit of $100,000 per occurrence, which can be increased by payment of an additional premium. Coverage applies to any claim or suit for damages because of bodily injury or property damage caused by an insured’s personal activities. 2.
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640 Class 16 Outline - Class 16 Outline Business Finance...

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