Which of the following statements is (are) true concerning the self-insured retention (SIR) under a commercial umbrella liability policy?
I. The SIR applies to claims covered by the umbrella policy but not by any underlying insurance.
II. The SIR only applies to those claims for which the underlying policy has paid first, and the umbrella policy is paying on an excess basis.
A) I only
B) II only
C) Both I and II
D) Neither I nor II
Answer: A
Business
You might also like to view...
____, in which an employee (usually a management trainee) moves from job to job at planned intervals, is OJT technique.
Fill in the blank(s) with the appropriate word(s).
Business
Corporate officers and other high-level managers are employees of the company so their rights are defined by employment _______________. Only employees with contracts. Even w/ contract can be removed w/ or w/o cause.
Fill in the blank(s) with the appropriate word(s).
Business