Noah calls the brokerage for a homeowners quote. The Broker evaluates the house and advises Noah to insure his house for $688,000. Noah only wants to insure his dwelling for $530,000 as this is what he paid for it. The Broker agrees to underinsure the house and does not document the advice given to the client in the file. What kind of exposure does this open the brokerage to? Errors and Omissions. Commercial General Liability. Completed Operations Liability. Directors and Officers liability. Your insured has an O.A.P. 1 Owner's Policy with $1,000,000 Liability, standard Accident Benefits and All Perils coverage. Near Sudbury, Ontario he/she rear- ends another automobile and is found liable for the accident. Your insured's vehicle is a total loss. Your insured is convicted of impaired driving. Which one (1) of these statements is true? Insured's policy will pay - for the damage to the third party vehicle and subrogate against your insured. nothing for the damage to your insured's car because he/she was impaired. Third party damage will be paid by third party's insurer. for the damage to the third party vehicle with no right to subrogate against your insured. for your insured's collision loss only. h

Noah calls the brokerage for a homeowners quote. The Broker evaluates the house and advises Noah to insure his house for $688,000. Noah only wants to insure his dwelling for $530,000 as this is what he paid for it. The Broker agrees to underinsure the house and does not document the advice given to the client in the file. What kind of exposure does this open the brokerage to? Errors and Omissions. Commercial General Liability. Completed Operations Liability. Directors and Officers liability. Your insured has an O.A.P. 1 Owner's Policy with $1,000,000 Liability, standard Accident Benefits and All Perils coverage. Near Sudbury, Ontario he/she rear- ends another automobile and is found liable for the accident. Your insured's vehicle is a total loss. Your insured is convicted of impaired driving. Which one (1) of these statements is true? Insured's policy will pay - for the damage to the third party vehicle and subrogate against your insured. nothing for the damage to your insured's car because he/she was impaired. Third party damage will be paid by third party's insurer. for the damage to the third party vehicle with no right to subrogate against your insured. for your insured's collision loss only. h