CII IF8 Practice Questions - CII IF8 Packaged Commercial Insurances Exam

Which statement best describes the main difference between a package policy and a commercial combined policy?

A package policy is largely standardised off-the-peg, while a commercial combined policy is more individually tailored A package policy can only cover property, while a commercial combined policy can only cover liability A package policy is always cheaper than any other form of cover A commercial combined policy never includes business interruption cover

Correct Answer:

A package policy is largely standardised off-the-peg, while a commercial combined policy is more individually tailored

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