Property & Casualty Insurance — Liability, Workers Comp & Bonds flashcards
10 of 77 cards free to study here · 6 topics · the whole deck is built into Willys
Negligence and its defenses, strict and vicarious liability, damages, the CGL and claims-made coverage, umbrella and excess, professional liability, business auto symbols, workers compensation and federal programs, and surety bonds.
Learn deck · part of Property and casualty insurance producer licence (national portion) · written against: Property and casualty concepts common to state producer exams; ISO personal and commercial forms as commonly taught; state law excluded. Updated 2026-10-10.
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Which four elements must a plaintiff prove to win a negligence claim?A legal duty, a breach of that duty, proximate cause, and actual damages.Tort Law › Negligence
Why: if any one is missing, such as when no real harm resulted, the claim fails. -
How do courts judge whether a defendant breached the duty of care?Against the reasonably prudent person: what a careful person would have done in the same circumstances.Tort Law › Negligence
Why: professionals are held to the standard of a reasonably careful member of their profession. -
What do CGL Coverages A, B and C each cover?A: bodily injury and property damage liability; B: personal and advertising injury liability; C: medical payments.Commercial General Liability › Coverages & Exclusions
Why: A and B are legal liability coverages that include defense, while C pays medical bills regardless of fault. -
A customer slips in a store and wants only her medical bills paid. Under CGL Coverage C, what conditions apply?The expenses must be incurred and reported within one year of the accident, and they are paid regardless of fault.Commercial General Liability › Coverages & Exclusions
Why: Coverage C does not pay for injury to an insured (other than a volunteer worker) or to anyone hired to work for an insured. -
How does a commercial umbrella differ from a follow-form excess policy?An umbrella can be broader than the underlying policies and drop down over gaps; follow-form excess only adds limits on the same terms as the underlying.Umbrella & Recreational › Commercial Umbrella & Excess
Why: where the umbrella covers a claim no underlying policy does, the insured pays a self-insured retention first. -
Which underlying policies does a commercial umbrella usually sit over?General liability, business auto liability and employers liability.Umbrella & Recreational › Commercial Umbrella & Excess
Why: the umbrella requires each to be kept at stated limits, and it pays above them. -
An accountant's mistake leads a client to pay large tax penalties. Why won't the accountant's CGL respond?The loss is purely financial and comes from professional services, so it needs professional liability (errors and omissions) coverage.Professional & Commercial Auto › Professional Liability
Why: the CGL covers bodily injury, property damage and listed offenses, not financial harm from a professional's mistakes. -
Which form of professional liability covers physicians and other health care providers?Malpractice insurance.Professional & Commercial Auto › Professional Liability
Why: it covers claims of injury from the provider's professional acts or failures, and like most professional liability it is usually written on a claims-made basis. -
Why can't an injured employee usually sue the employer for a workplace injury?Workers compensation is the exclusive remedy: the employee receives benefits regardless of fault and gives up the right to sue.Workers Compensation › Principles & Benefits
Watch out: states allow exceptions, such as injuries the employer intended. -
Who are the three parties to a surety bond?The principal, who promises to perform; the obligee, who is protected; and the surety, which guarantees the performance.Surety Bonds
Why: insurance has only two parties, the insurer and the insured.
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About these cards
Review status: Second-reader reviewed, with corrections applied.
Checked against:
- Policy provisions described from the ISO personal and commercial forms as commonly taught on licensing exams (homeowners, dwelling, personal auto, commercial property, CGL, business auto) and the NCCI workers compensation and employers liability policy, in our own words; no form text reproduced. Edition differences and state amendatory endorsements vary.
- General insurance and tort principles written from author knowledge; no textbook, prep-course or question-bank text copied. National content only: state insurance law, fees and figures indexed yearly are excluded.
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Not insurance or legal advice. These cards cover the national portion of the producer licensing exam only. State insurance law and your state's exam content are not included; check your state's insurance department and its candidate handbook.
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