solved How is the definition of employee different in Bond Form

How is the definition of employee different in Bond Form 24 from a commercial crime form?
What are the 4 characteristics of surety bonds that distinguish them from most insurance policies?
What options are available to the surety if a contractor defaults under a performance bond?
What do fiduciary bonds guarantee? Provide an example.
What are the differences between the NFIP General Property Form and the standard commercial property form?
How can the ISO Flood coverage endorsement provide broader coverage than the NFIP flood policies? Provide an example.
How are deductibles expressed in ISO Earthquake endorsements? What is the ensuing loss provision of the ISO Earthquake endorsement?
Why would an insurer write a DIC policy without a coinsurance clause? What are the advantages of a DIC policy to an insured? Provide an example.

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10-3 Mini Case Studies:
Answer the following questions in your own words in a Word document. Remember these are mini-case studies, not review questions, and as such your responses are to be in complete sentences and paragraphs, with at least 350 words for each numbered question. Review the associated rubric to understand the response content expected. Please restate the question in your document but do not count these words in your total response length.

From his military experience, Bob is familiar with all types of demolition work. However, his primary recent experience is in the use of explosives. He wants to put his demolition experience to use by starting his own small contracting firm. Bob is bidding on a contract that includes the use of explosives to demolish an abandoned chemical plant located beside a small river. In a conference with the building’s owner and her attorney, the discussion focuses on required surety bonds for the project.

What concerns would a surety underwriter be likely to have in providing Bob with the bonds needed for this project?
Describe the government program in which Bob might take a part to help him get the bonds necessary to take on the demolition work.
Given the contract that Bob hopes to win, what kinds of contract bonds is the building owner likely to require of Bob?
Given the type of work Bob plans to undertake, describe two license or permit bonds Bob is likely to be required to provide.

A commercial building valued at $3,000,000 was insured on a specific basis under the ISO Earthquake and Volcanic Eruption Endorsement (Sub-Limit Form) for a limit of $1,000,000 with a 5% deductible.

An earthquake caused damage valued at $600,000. How much should the insured be able to recover for this damage?
48 hours later, an aftershock caused additional damage valued at $50,000. How much should the insured be able to recover for this damage?