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4-3 Joe Smith has been in the plumbing business as a sole proprietor for the past...

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Finance

4-3 Joe Smith has been in the plumbing business as a soleproprietor for the past 35 years and is planning to retire. Hisinsurance agent has told him that he should continue to carryProducts and Completed Operations Liability coverage. Do you agreewith the agent’s recommendation? Explain your answer

Answer & Explanation Solved by verified expert
4.1 Ratings (531 Votes)
The general liability policy is made up in accordance with the standard forms issued by the Insurance Services officeISO that is predictable and carries fewer risks in comparing with other proprietary forms Therefore a person who is in service should opt for this general liability policy which not only helpful for the insured person but also for the part of insurer as the interpretation of the clauses under the policy have analyzed by the Court which does not mean differently beyond the expectation of the insurer hence carries fewer risks There are three basic coverage found in the Commercial General Liability Form These are Bodily injury and liability relating to property damage that is under coverage A The clause under Coverage A saves the insured person if any damage occurs from his part to the third party relating to body    See Answer
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4-3 Joe Smith has been in the plumbing business as a soleproprietor for the past 35 years and is planning to retire. Hisinsurance agent has told him that he should continue to carryProducts and Completed Operations Liability coverage. Do you agreewith the agent’s recommendation? Explain your answer

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