Finance 341Class Assignment #14Names:________________________________________________Find a partner for this exercise. Introduce yourselves, if you don’t already know your partner. Indicate whether or not each of the following situations would be covered under a Commercial General Liability policy on a store that sells and installs carpeting. If the situation would be covered, indicate which coverage (A, B, or C) would apply. If you indicate that Coverage A applies, write the type of coverage (Premises and Operations, Contractual, Fire Legal or Products and Completed Operations) that would apply. 1. A person trips on a carpet that the company had installed improperly inhis home. The person sues the company and wins an award for his injuries. Covered Not coveredCoverage A Coverage B Coverage C________________________________________________2. The company uses an advertising slogan that is used by another carpetcompany, and is found liable for damages to the other company. Covered Not coveredCoverage A Coverage B Coverage C________________________________________________3. An employee in the carpet store hurts his back lifting a roll of carpeting. The employee incurs medical expenses.Covered Not coveredCoverage A Coverage B Coverage C________________________________________________4. Ice falls off the roof of the building and injures a woman walking on thesidewalk in front of the store, sending her to the hospital. She later sues the company and wins an award for her injuries. Covered Not coveredCoverage A Coverage B Coverage C________________________________________________5. The carpet company rents the store it uses as a showroom. During a training session for new employees on how to remove glue from a floor, the store is set on fire, causing serious damage to the store. Covered Not coveredCoverage A Coverage B Coverage C________________________________________________6. The store signs a contract to install carpeting in a new home by April 1.Bad weather keeps the company from meeting this deadline. The company incurs a loss of $10,000 on this contract.Covered Not coveredCoverage A Coverage B Coverage
View Full Document
Unlocking...