Never-Die Battery manufactures batteries for industrial and consumer use. The company purchased a commercial package policy (CPP) to cover its property exposures. In addition to common policy conditions and declarations, the policy contains a building and personal property coverage form and an equipment breakdown protection coverage form. The policy also contains the causes-of-loss broad form. With respect to each of the following losses, indicate whether or not the loss is covered.
a. An explosion occurred that damaged the building where finished batteries are stored.
b. Because of the explosion, the company incurred expenses for expedited shipping of replacement parts for machines used to manufacture the batteries.
c. The explosion injured several employees who received emergency treatment at a local hospital.
d. An automatic sprinkler system accidentally discharged in the finished goods building. Some recently manufactured batteries were ruined because of water damage and corrosion.

Question

10-05-2021
Business

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Never-Die Battery manufactures batteries for industrial and consumer use. The company purchased a commercial package policy (CPP) to cover its property exposures. In addition to common policy conditions and declarations, the policy contains a building and personal property coverage form and an equipment breakdown protection coverage form. The policy also contains the causes-of-loss broad form. With respect to each of the following losses, indicate whether or not the loss is covered.
a. An explosion occurred that damaged the building where finished batteries are stored.
b. Because of the explosion, the company incurred expenses for expedited shipping of replacement parts for machines used to manufacture the batteries.
c. The explosion injured several employees who received emergency treatment at a local hospital.
d. An automatic sprinkler system accidentally discharged in the finished goods building. Some recently manufactured batteries were ruined because of water damage and corrosion.

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Parrain Parrain · Answer 1 · 2021-05-11T03:16:14+02:00

Answer:

a. An explosion occurred that damaged the building where finished batteries are stored. COVERED.

The policy covers their property exposures which includes a building and property coverage which means that damage to the building will be covered.

b. Because of the explosion, the company incurred expenses for expedited shipping of replacement parts for machines used to manufacture the batteries. COVERED.

There is a coverage for equipment breakdown as well and because some machines were damaged in the explosion, they will need to be replaced and as they qualify as broken down, they will be covered.

c. The explosion injured several employees who received emergency treatment at a local hospital. COVERED.

With business and property insurance, employees are covered in the policy when they incur injuries related to business operations so these employees are covered.

d. An automatic sprinkler system accidentally discharged in the finished goods building. Some recently manufactured batteries were ruined because of water damage and corrosion. COVERED.

The sprinkler is considered equipment so in breaking down its effects are covered by the equipment breakdown so this is covered as well.