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CPCU 551 - Chapter 1

Introduction to Commercial Property Insurance

QuestionAnswer
What are the four categories of loss exposures faced by most organizations to which risk control techniques can be applied to prevent or reduce the cost of losses?
Describe the way in which each of the following risk control techniques prevents or reduces the cost of losses: (a) Avoidance, (b) Loss reduction, (c) Separation.
For an organization located in an earthquake-prone area, what are three risk control measures that can reduce losses from earthquakes?
Explain how an organization can be insured by both multiline and monoline policies.
What coverage parts are required in a commercial package policy (CPP) under ISO's Commercial Lines Manual (CLM) rules?
What coverages are typically provided in businessowners policies?
Explain how an output policy differs from a commercial package policy.
Created by: knvolio
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