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:

Stage of Morality

Concept in moral development theory that classifies individuals' reasoning about ethical and moral issues into distinct levels or stages.

Postconventional

A stage of moral development in which an individual's moral reasoning is based on principles that transcend societal and personal norms.

Law

A system of rules created and enforced through social or governmental institutions to regulate behavior, with its precise definition a matter of longstanding debate.

Character Counts

A phrase emphasizing the importance of ethical conduct and integrity in personal and professional life.