Which of the Following Statements About the Typical Commercial Umbrella

question 19

Multiple Choice

Which of the following statements about the typical commercial umbrella policy is (are) true?
I.The policy is designed to cover only those loss exposures specifically excluded by the underlying insurance contracts.
II.The policy is excess over the required underlying coverages.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

Future Outcome

An event or result that occurs later in time, often as a consequence of actions taken in the present.

Forecasts

Predictions about future events, conditions, or trends based on current data or analysis, used to assist in planning and decision-making.

Shortsighted Emphasis

A focus on immediate outcomes without considering long-term implications.

Organizational Strategy

A plan devised by an organization to achieve long-term goals and sustain competitive advantage.