FINA 4358 MODULE 2C ASSIGNMENT | LATEST UPDATE

FINA 4358 MODULE 2C ASSIGNMENT Commercial Property Insurance Homework Questions 2c Module 2c The following questions pertain to the use of the Special Cause of Loss Form: 1. A PDI worker accidentally tossed an expen ...

FINA 4358 MODULE 2C ASSIGNMENT Commercial Property Insurance Homework Questions 2c Module 2c The following questions pertain to the use of the Special Cause of Loss Form: 1. A PDI worker accidentally tossed an expensive piece of electronic equipment into the furnace at the manufacturing plant. Is this covered? 2. The guest residence in Clear Lake was severely damaged by fire. Actually, most of the damage was from smoke stains and smell and the firewater used by firemen to extinguish the blaze. Is all of this part of the fire claim? 3. 30 of the work station PC’s were damaged at the corporate offices by an electrical surge. Is this covered? 4. Significant damage occurred at the manufacturing plant when the steam boiler used to heat the building ruptured. Is this covered? 5. The warehouse in San Francisco suffered serious damage when workers failed to close the cargo loading dock door and wind driven rain was blown into the building during a storm that night. 6. The content s of the warehouse in Houston suffered severe damage when the sprinkler system accidentally discharged and it took 30 minutes to get the system turned off. Is this covered? 7. The warehouse in Denver was damaged when a PDI employee carelessly backed a PDI truck into the side of the building. Is this covered? 8. The guest residence in Argentina was damaged when a sinkhole developed on the property causing part of the building to collapse into it. Is this covered? 9. The PDI office in Greece was damaged by a shock wave when a nearby volcano erupted. The damage was made worse by three consecutive shock waves occurring at 3 hour intervals after the first one hit. Would this be covered? As one event or four? 10. During heavy winds, a large tree fell into the side of the Office/Warehouse in Korea causing serious damage. Is this covered? . 11. Weight of snow caused the roof of the warehouse in Denver to collapse. Is this covered? 12. It was recently discovered that an employee shower at the Office/Warehouse in San Francisco had been leaking for many months. This has caused extensive rotting of the flooring and walls as well as a major mold infestation. Is this covered? 13. Following a fire loss at the warehouse in Houston, it was discovered that extensive code upgrades would be required in order for the repair work to be approved by the City inspectors. This is costing an additional $55,000 in expense. Will this be covered? . 14. The office in San Francisco was damaged by a mild earthquake. Would this be covered? 15. Several pressure vessels in the course of production at the plant in Houston were ruined and had to be scrapped because of a loss of electrical power caused by a fire at the local power station 5 miles away. Would this be covered? 16. It was discovered that a trusted employee was stealing large sums of money from PDI by diverting products to fictitious buyers. Would this be covered? 17. The warehouse in Houston received unauthorized instructions to ship several expensive blowout preventers to a company in Louisiana. Is his covered? 18. It was discovered during an inventory at the Houston warehouse that a large number of generators were missing. Can PDI file an insurance claim for this? . 19. A large number of lighting fixtures awaiting installation at the warehouse in Korea were stolen during the night. Is this covered? 20. Explain to the CFO which property is covered only for “Specified causes of Loss” under the Special Form. 21. A large compressor at the manufacturing plant in Houston was completely destroyed when workers failed to keep it properly lubricated. Is this covered? 22. Following heavy rains in the Woodlands, rising waters from local creeks and streams caused extensive damage to the ground floor of the PDI resort. Is this covered?