Flag this Question Question 3 1 pts Which one of the following best describes pr

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Question 3

1 pts

Which one of the following best describes protection and indemnity (P&I)

insurance?

1. A marine insurance that means bodily injury and property damage

liability coverage.

2. Physical damage insurance on a boat, including its sales, machinery,

and equipment.

3. A stronger promise than a contract agreement.

4. Required benefits to marine employees.

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Question 4

1 pts

The personal umbrella policy covers the insured's liability for personal injury.

Under a typical personal umbrella policy, the definition of personal injury

liability includes which one of the following:

1. Assault and battery intentionally committed.

2. False arrest.

3. Property damage to property of others.

4. Abandonment.

1. A marine insurance that means bodily injury and property damage

liability coverage.

2. Physical damage insurance on a boat, including its sales, machinery,

and equipment.

3. A stronger promise than a contract agreement.

4. Required benefits to marine employees.

Explanation / Answer

Question 3;

Answer is option (1). A marine insurance that means bodily injury and property damage liability coverage.

Explanation;

Protection and indemnity (P&I) insurance refers to a marine insurance which provides protection to shipowners, operators, and charterers for third party liabilities. These covers are provided from the risks associated with commercial operation of entered vessels and various types of specified risks are covered under P&I. Thus option (1) is correct.

Question 4;

Answer is option (2). False arrest.

Explanation;

Definition of personal injury liability includes false arrest. As we know that personal umbrella policy covers the insured's liability for personal injury and personal injury liability includes followings;

·        Libel, slander, or defamation of character

·        False arrest

·        Willful or false detention

·        Malicious prosecution

·        Wrongful eviction

·        Assault or battery, if committed to protect persons or property etc.

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