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An insured's house is destroyed by fire and due to local by-laws, has to be rebuilt with more expensive materials. Which one (1) of the following describes the extent of coverage available under a Homeowners Comprehensive policy which has NOT been endorsed to cover the by-laws exposure. OA) The increased cost to rebuild. OB) The cost to rebuild with the same general materials and manner as before. OC) The cost to rebuild less 10% for improvements and betterments. OD) The cost to rebuild plus 25% for improvements and betterments.

An insured's house is destroyed by fire and due to local by-laws, has to be rebuilt with more expensive materials. Which one (1) of the following describes the extent of coverage available under a Homeowners Comprehensive policy which has NOT been endorsed to cover the by-laws exposure. OA) The increased cost to rebuild. OB) The cost to rebuild with the same general materials and manner as before. OC) The cost to rebuild less 10% for improvements and betterments. OD) The cost to rebuild plus 25% for improvements and betterments.

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An insured's house is destroyed by fire and due to local by-laws, has to be rebuilt with more expensive materials. Which one (1) of the following describes the extent of coverage available under a Homeowners Comprehensive policy which has NOT been endorsed to cover the by-laws exposure. OA) The increased cost to rebuild. OB) The cost to rebuild with the same general materials and manner as before. OC) The cost to rebuild less 10% for improvements and betterments. OD) The cost to rebuild plus 25% for improvements and betterments.
Transcribed Image Text:An insured's house is destroyed by fire and due to local by-laws, has to be rebuilt with more expensive materials. Which one (1) of the following describes the extent of coverage available under a Homeowners Comprehensive policy which has NOT been endorsed to cover the by-laws exposure. OA) The increased cost to rebuild. OB) The cost to rebuild with the same general materials and manner as before. OC) The cost to rebuild less 10% for improvements and betterments. OD) The cost to rebuild plus 25% for improvements and betterments.
What is the purpose of a contract between an insurer and an insurance broker (company/broker agreement)? OA) To satisfy the requirements of the Department of Insurance. OB) To formalize in writing the authority of the broker and the responsibilities of each party. OC) To authorize the broker to operate a Trust Account. OD) To meet the requirements of RIBO.
Transcribed Image Text:What is the purpose of a contract between an insurer and an insurance broker (company/broker agreement)? OA) To satisfy the requirements of the Department of Insurance. OB) To formalize in writing the authority of the broker and the responsibilities of each party. OC) To authorize the broker to operate a Trust Account. OD) To meet the requirements of RIBO.
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