What is the limit on lost wages included in CGL supplementary payments?

Prepare for the Kentucky Insurance Adjuster Exam with our quizzes featuring flashcards and multiple-choice questions. Each question includes hints and explanations to help you succeed!

The correct answer is the option that states the limit on lost wages included in Commercial General Liability (CGL) supplementary payments is $250 per day. This amount reflects the policy's provision for reimbursement of lost wages incurred by the insured due to a covered claim or legal action.

The specifics of this limit are designed to provide compensation for the time an insured individual might need to take off work to assist in legal matters related to a claim, ensuring that they are not unduly financially burdened while engaging with the claims process. CGL policies are structured to provide a level of support to policyholders during challenging situations, thus this daily limit is set to balance generosity with fiscal responsibility for the insurance provider.

Understanding the $250 limit helps policyholders recognize their coverage scope and prepare effectively for potential claims. This information can be crucial when assessing financial implications during a legal dispute or when planning for the possibility of needing to take time off work due to insurance-related issues.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy