A local builder offers to place with you insurance on every house he/she builds while it is under construction. In return,he/she wants you to allow him/her 20 % discount off the premium required by insurers. How would you respond tocomply with RIBO Regulations?OA) You can only allow a five percent (5%) discount because of your overhead and expenses.OB) You will pay the builder a flat $10.00 fee for each house, but it is contrary to RIBO Regulations to discount thepremium.OC) You refuse to pay the builder anything, since it would contravene RIBO Regulations.OD) You offer the builder a 20% premium refund for those houses that have no claims while under construction. An accident in Ontario between two Ontario-registered cars leaves both cars damaged. Each car is insured for DirectCompensation-Property Damage but NOT for collision damage. Both drivers are found equally to blame for the accident.Which one (1) of the following statements is correct?OA) Your insured will be entitled to sue the other driver for damage to his/her car.OB) Each driver will collect 50% of the damage to his/her own car under his/her own policy.OC) The other driver will be entitled to sue your insured for damage to his/her car.OD) Each driver will collect 50% of the damage to his/her own car under the policy of the other.

The complicated framework of rules and regulations known as insurance regulations was developed by…

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