Property & Casualty Insurance Flashcards
6 cards from real BCP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Property & Casualty Insurance flashcards as text
What does a standard Fire Insurance policy in Singapore typically cover?
Answer: Fire, lightning, and explosion of domestic boilers
A standard Fire Insurance policy covers loss or damage caused by fire, lightning, and explosion of domestic gas boilers or gas used for domestic purposes. Other perils require extensions.
Which of the following is typically EXCLUDED from a standard property insurance policy?
Answer: Gradual deterioration and wear and tear
Gradual deterioration and wear and tear is typically excluded from property insurance policies because insurance covers sudden, unforeseen events — not inevitable deterioration over time.
What is 'public liability insurance' designed to cover?
Answer: A business's legal liability to third parties for bodily injury or property damage
Public liability insurance covers a business's legal liability to third parties (members of the public) who suffer bodily injury or property damage arising from the business's activities.
In motor insurance, what does 'Third Party Only' (TPO) coverage provide?
Answer: Coverage for injuries and damage caused to other parties by the insured
Third Party Only (TPO) motor insurance covers the insured's legal liability to third parties for bodily injury and property damage caused by the insured's vehicle, but does not cover the insured's own vehicle.
What does 'employers' liability insurance' cover in Singapore?
Answer: The employer's legal liability for work-related injuries or illnesses suffered by employees
Employers' liability insurance covers the employer's legal liability to pay compensation to employees who suffer work-related injuries, diseases, or death in the course of their employment.
Which peril is typically covered under a Contractors' All Risks (CAR) policy?
Answer: Accidental physical loss or damage to the contract works
A Contractors' All Risks (CAR) policy covers accidental physical loss or damage to the contract works, plant, and equipment during construction, subject to policy exclusions.