A professional liability for which producers can be sued for mistakes of putting a policy into effect is called

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A professional liability for which producers can be sued for mistakes of putting a policy into effect is called

A) fiduciary bond
B) errors and omissions
C) fiduciary trust
D) errors and oversights

Answer: B) errors and omissions

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

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