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60 of 90 Misrepresentation dise policy being voided. W circumstances must th the policy? The misrepresentation was malici The misrepresented fact was mat

60 of 90 Misrepresentation dise policy being voided. W circumstances must th the policy? The misrepresentation was malici The misrepresented fact was mat

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60 of 90 Misrepresentation discovered by an insurer may result in the policy being voided. Which one (1) of the following circumstances must the insurer show occurred to legally void the policy? The misrepresentation was malicious. The misrepresented fact was material to the n The misrepresentation was the result of extreme carelessness by the insured's broker. The misrepresented fact was the product of collusion between the insured and the broker.
Transcribed Image Text:60 of 90 Misrepresentation discovered by an insurer may result in the policy being voided. Which one (1) of the following circumstances must the insurer show occurred to legally void the policy? The misrepresentation was malicious. The misrepresented fact was material to the n The misrepresentation was the result of extreme carelessness by the insured's broker. The misrepresented fact was the product of collusion between the insured and the broker.
Zoning by-laws in the area where your insured resides are changed to permit commercial occupancy. Your insured decides to open a small restaurant in the basement of his/her home. What is the effect of this change on coverage under your insured's Homeowners policy? OA) The policy will not apply unless it contains a By-laws Endorsement. in the kitchen. OB) The policy will not apply until he/she installs automatic fire protection equipment could impair the coverage. OC) It is a change material to the risk and failure to notify the insurer OD) The replacement cost clause will no longer apply to the risk.
Transcribed Image Text:Zoning by-laws in the area where your insured resides are changed to permit commercial occupancy. Your insured decides to open a small restaurant in the basement of his/her home. What is the effect of this change on coverage under your insured's Homeowners policy? OA) The policy will not apply unless it contains a By-laws Endorsement. in the kitchen. OB) The policy will not apply until he/she installs automatic fire protection equipment could impair the coverage. OC) It is a change material to the risk and failure to notify the insurer OD) The replacement cost clause will no longer apply to the risk.
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