Bảo hiểm & Quyền cầm giữCâu 1563 / 1605
'Additional insured' status is most valuable to an upstream party (like an owner or GC) because it:
a.Waives the sub's lien rights
b.Lowers the sub's premium
c.Guarantees project completion
d.Gives the upstream party access to the sub's insurer for defense and indemnity on claims arising from the sub's work
Giải thích
Additional insured status gives the upstream party direct access to the downstream party's insurer to defend and indemnify claims arising from the downstream party's operations. This effectively transfers that portion of risk to the sub's insurer.
Luyện miễn phí toàn bộ 1605 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- Requiring a subcontractor to provide a certificate of insurance BEFORE it starts work is a best practice primarily because it:
- Which best describes the difference between the payment bond and the performance bond on the SAME project?
- A mechanics lien on a private project should describe the property with:
- A design professional (e.g., architect) who provided services for a private work of improvement authorized by the owner:
- An owner asks the contractor to provide a certificate of insurance naming the owner as additional insured. For the owner to actually have that status, the certificate must be accompanied by, or reflect:
- A stop payment notice, unlike a mechanics lien, does NOT need to be:
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Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)