CIC COMMERCIAL MULTI-LINE EXAM PREP (100% CORRECT ANSWERS)

CIC COMMERCIAL MULTI-LINE EXAM PREP (100% CORRECT ANSWERS)
Question : Describe how inland marine insurance started
Correct answer: -evolved from ocean marine
-filled gap in coverage as good transitioned from ocean marine
-cover goods in transit over land
Question : Does inland marine also apply to instruments of
transportation and communication?
Correct answer: Yes, ex. Bridges, tunnels, piers, cell towers,
pipelines.
Question : What is the basic exclusion applicable to inland
marine?
Correct answer: Property in a fixed location is not eligible for
marine insurance
Question : Lost 4 types of floaters

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