An insurance broker agreed to bind liability coverage, the premium for which the applicant promised to pay the following week. Before any payment was made, a claim was made by a third party. What special action, if any, would the insurer take? OA) Obtain a signed "Waiver of Subrogation from the applicant/insured. OB) Deny the claim because no premium had been paid. OC) Investigate the claim but take no further action. OD) Respond to the claim in accordance with the coverage bound by the broker.
An insurance broker agreed to bind liability coverage, the premium for which the applicant promised to pay the following week. Before any payment was made, a claim was made by a third party. What special action, if any, would the insurer take? OA) Obtain a signed "Waiver of Subrogation from the applicant/insured. OB) Deny the claim because no premium had been paid. OC) Investigate the claim but take no further action. OD) Respond to the claim in accordance with the coverage bound by the broker.
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Transcribed Image Text:An insurance broker agreed to bind liability coverage, the premium for which the applicant promised to pay the
following week. Before any payment was made, a claim was made by a third party. What special action, if any, would
the insurer take?
OA) Obtain a signed "Waiver of Subrogation" from the applicant/insured.
OB) Deny the claim because no premium had been paid.
OC) Investigate the claim but take no further action.
OD) Respond to the claim in accordance with the coverage bound by the broker.
Transcribed Image Text:Which one (1) of the following clauses in a property insurance policy does NOT affect the amount of settlement an
insured would receive as a result of an insured loss?
OA) Co-insurance clause.
OB) Deductible clause.
OC) Pro-rata distribution clause.
OD) All perils rider.
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