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A person insured under a property policy goes bankrupt and sustains à löss (1) of the following statements describes the legal situation that exists? OA) The policy is void because the insured is bankrupt. OB) The insurer is liable to pay the loss to the trustee in bankruptcy. OC) Bankruptcy is considered a material change to the risk and the policy is therefore void. OD) The loss would be paid by the Trustee in Bankruptcy.

A person insured under a property policy goes bankrupt and sustains à löss (1) of the following statements describes the legal situation that exists? OA) The policy is void because the insured is bankrupt. OB) The insurer is liable to pay the loss to the trustee in bankruptcy. OC) Bankruptcy is considered a material change to the risk and the policy is therefore void. OD) The loss would be paid by the Trustee in Bankruptcy.

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A person insured under a property policy goes bankrupt and sustains a loss covered by the policy shortly afterwards. Which one (1) of the following statements describes the legal situation that exists? OA) The policy is void because the insured is bankrupt. OB) The insurer is liable to pay the loss to the trustee in bankruptcy. OC) Bankruptcy is considered a material change to the risk and the policy is therefore void. OD) The loss would be paid by the Trustee in Bankruptcy.
Transcribed Image Text:A person insured under a property policy goes bankrupt and sustains a loss covered by the policy shortly afterwards. Which one (1) of the following statements describes the legal situation that exists? OA) The policy is void because the insured is bankrupt. OB) The insurer is liable to pay the loss to the trustee in bankruptcy. OC) Bankruptcy is considered a material change to the risk and the policy is therefore void. OD) The loss would be paid by the Trustee in Bankruptcy.
Section II - Liability Coverage of the Homeowners Comprehensive policy provides coverage for Voluntary Payment for Damage to Property in which one (1) of the following situations? OA) Damage to a ride-on lawn mower rented from a local rent-all establishment. OB) Damage caused by a guest, who backed an automobile into a portable barbecue which the insured had borrowed from a neighbour. OC) Property of others damaged intentionally by the insured's 10 year old son. OD) Theft from insured's premises of a shotgun on loan from a local sporting goods store.
Transcribed Image Text:Section II - Liability Coverage of the Homeowners Comprehensive policy provides coverage for Voluntary Payment for Damage to Property in which one (1) of the following situations? OA) Damage to a ride-on lawn mower rented from a local rent-all establishment. OB) Damage caused by a guest, who backed an automobile into a portable barbecue which the insured had borrowed from a neighbour. OC) Property of others damaged intentionally by the insured's 10 year old son. OD) Theft from insured's premises of a shotgun on loan from a local sporting goods store.
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