All of the following describe insurable interest EXCEPT:
A.Insurable Interest must exist at the time of the loss.
B.Insurance Interest must exist for insurance to respond
C.Show a similarity between insurance and wagering.
D.The insured would suffer an economic loss.
~~> Show a similarit...
Insurance that covers the responsibility for loss arising out of policy holder's
negligence - that results in payment to a party other than the insured is:
A.Not available in Florida insurance policies
B.Fourth party claims
C.Standard property insurance
D.Liability
✓ ~~> D.Liability
The goal of insurance is to restore the insured to the same economic position
as before the covered loss occurred, this is the principle of:
A.dhesion
B.Actual Cash Value
C.Indemnity
D.Severability
✓ ~~> C.Indemnity
Liability limits may be expressed as a:
A.Aggregate Limit
Master01 | September, 2024/2025 | Latest update
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