A personal articles floater (PAF) provides broad protection for valuable personal property. Give three examples of property that might require coverage under a PAF instead of a standard homeowner’s policy.
Answer to relevant QuestionsThe National Flood Insurance Program (NFIP) has numerous provisions. Briefly explain each of the following:a. Write-your-own programb. Meaning of a floodc. Waiting periodKimberly owns and operates a tennis shop in a resort area.The business is seasonal. A large part of the annual revenues are due to sales in June, July, and August. Kimberly keeps the shop open during the remaining months of ...Richard owns and operates a small furniture store. In addition to Richard, the firm employs two sales representatives. Richard's insurance agent advises him that the store can be insured under a businessowners policy (BOP). ...Explain the following ocean marine insurance coverages:a. Hull insuranceb. Cargo insurancec. Protection and indemnity (P&I) insuranced. Freight insuranceElectrical Services is an electrical contractor that employs 10 electricians. Electrical Services faces numerous loss exposures. One general liability loss exposure arises out of faulty work that an electrician performs in a ...
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