Pls help ASAP on both 56 of 901:34Your client leases an automobile on an annual basis from anauto leasing company and asks you to look after theautomobile insurance. What special insurance arrangementswould be necessary to make certain the insured and spousewould be covered while operating the motor vehicle?No special arrangements are necessary. The O.A.P. 1 Owner's Policy covers yourclient's spouse automatically.Issue an O.A.P. 1 Owner's Policy in your client's name also advising the insurer ofthe name of the leasing company.Advise the insured to have the leasing company include the vehicle under its GarageAutomobile Policy endorsed to include insured's spouse.Issue an O.A.P. 1 Owner's Policy in the name of both the leasing company and yourclient with an "OPCF 5-Permission to Rent or Lease Automobiles" endorsement. 54 of 90 Which one (1) of the following can affect the amount ofsettlement an insured would receive as a result of an insuredloss?All perils rider.Named perils rider.Co-insurance clause.Subrogation clause.

Answered: 54 of 90 Which one (1) of the following…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Pls help ASAP on both

56 of 90
1:34
Your client leases an automobile on an annual basis from an
auto leasing company and asks you to look after the
automobile insurance. What special insurance arrangements
would be necessary to make certain the insured and spouse
would be covered while operating the motor vehicle?
No special arrangements are necessary. The O.A.P. 1 Owner's Policy covers your
client's spouse automatically.
Issue an O.A.P. 1 Owner's Policy in your client's name also advising the insurer of
the name of the leasing company.
Advise the insured to have the leasing company include the vehicle under its Garage
Automobile Policy endorsed to include insured's spouse.
Issue an O.A.P. 1 Owner's Policy in the name of both the leasing company and your
client with an "OPCF 5-Permission to Rent or Lease Automobiles" endorsement.

54 of 90 Which one (1) of the following can affect the amount of
settlement an insured would receive as a result of an insured
loss?
All perils rider.
Named perils rider.
Co-insurance clause.
Subrogation clause.

Expert Solution

Step 1: Define insured

An "insured" refers to an individual, organization, or entity that has taken out an insurance policy or is covered by an insurance policy. This designation means that they are protected against specific risks or losses outlined in the insurance policy, and they have the right to make claims and receive compensation from the insurance company if covered events occur.

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