Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Regal Homebuilders is insured under a CGL with a $ 5 million general aggregate limit of insurance. At the request of a client, Regal attaches

Regal Homebuilders is insured under a CGL with a $5 million general aggregate limit of insurance. At the request of a client, Regal attaches a designated construction project general aggregate limit endorsement to the policy, naming the client in the schedule. How does this endorsement change the coverage available under Regal's policy?
a. It provides separate general and products-completed operations aggregate limits that apply exclusively to the project listed in the endorsement schedule.
b. It doubles the amount of coverage available to pay claims arising out of the project listed in the endorsement schedule.
c. It provides a separate general aggregate limit that applies exclusively to claims arising out of the project listed in the endorsement schedule.
d. It provides additional insured status to the person or entity listed in the endorsement schedule and provides a separate limit of insurance that applies exclusively to claims made against that person or entity.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Finance Bundling And Finance Transformation

Authors: Frank Keuper, Kai-Eberhard Lueg

1st Edition

3658042109, 978-3658042103

More Books

Students also viewed these Finance questions

Question

What would you do?

Answered: 1 week ago