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A contract of insurance to indemnify the insured in the event of loss will NOT provide which one (1) of the following forms of payment to the insured? OA) Compensation for the loss or expenses incurred. OB) Reimbursement for the amount of the loss up to the limit of the policy. OC) Restoring the insured as nearly as possible to his/her position before the loss. OD) Reimbursement for the replacement cost of the property damaged or destroyed.

A contract of insurance to indemnify the insured in the event of loss will NOT provide which one (1) of the following forms of payment to the insured? OA) Compensation for the loss or expenses incurred. OB) Reimbursement for the amount of the loss up to the limit of the policy. OC) Restoring the insured as nearly as possible to his/her position before the loss. OD) Reimbursement for the replacement cost of the property damaged or destroyed.

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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A contract of insurance to indemnify the insured in the event of loss will NOT provide which one (1) of the following forms of payment to the insured? A) Compensation for the loss or expenses incurred. OB) Reimbursement for the amount of the loss up to the limit of the policy. OC) Restoring the insured as nearly as possible to his/her position before the loss. OD) Reimbursement for the replacement cost of the property damaged or destroyed.
Transcribed Image Text:A contract of insurance to indemnify the insured in the event of loss will NOT provide which one (1) of the following forms of payment to the insured? A) Compensation for the loss or expenses incurred. OB) Reimbursement for the amount of the loss up to the limit of the policy. OC) Restoring the insured as nearly as possible to his/her position before the loss. OD) Reimbursement for the replacement cost of the property damaged or destroyed.
What are the two main reasons an insurance company would request the completion of a more detailed medical questionnaire from an applicant for travel insurance? OA) Travel destination and dates OB) Age and medical history OC) Occupation and purpose of travel OD) Limit of coverage and deductibles requested
Transcribed Image Text:What are the two main reasons an insurance company would request the completion of a more detailed medical questionnaire from an applicant for travel insurance? OA) Travel destination and dates OB) Age and medical history OC) Occupation and purpose of travel OD) Limit of coverage and deductibles requested
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