Florida Association of Insurance Agents

Commercial Auto, Surety, CIPs, and Miscellaneous Lines

Back To Education Home

This course begins with a description and brief analysis of the typical structure and format of a contractor's insurance program. It provides an overview of various additional coverage needs of many contractors, including auto liability, professional liability, pollution liability, employment practices liability, directors and officers liability, and fiduciary liability insurance. It also discusses the two coverage triggers—occurrence and claims-made—with particular emphasis on the latter which is often used with professional liability policies. This includes many scenarios displayed in exhibits that illustrate how the trigger works. In addition, this course provides an overview of two special areas of importance for contractors—consolidated insurance programs (CIPs) and surety bonds. There are 10 learning objectives for the individual taking this course.

• To understand how a contractor's insurance program is typically organized and structured.
• To learn the major coverages of the commercial auto policy, with emphasis on the auto loss exposures contractors face.
• To comprehend the need for professional liability coverage, whether it is a contractors professional liability policy or an architects and engineers professional liability policy.
• To achieve a basic understanding of pollution liability loss exposures that contractors face and coverage available to them for this exposure.
• To understand the ins and outs of employment practices liability insurance.
• To learn about the protection a directors and officers liability policy provides.
• To attain a comprehension of fiduciary liability loss exposures and the coverage available for this exposure.
• To grasp the intricacies of coverage triggers, such as the claims made and occurrence triggers.
• To understand the basics of controlled insurance programs and the pros and cons of these programs.
• To gain a working knowledge of surety bonds that many contractors need.