Homework Help is Here – Start Your Trial Now!
Business
Economics
As a result of an automobile accident, John, the insured was sued and the plaintiff was awarded $2 million. John was told that the limit on his policy is $1 million. John asks for the completed and signed automobile application. When the Broker retrieves the application, signed a year ago, they notice that the limit stated was in fact $2 million. What should the Broker do? OA) Modify the original application to $1 million. OB) Send the application to John and acknowledge the error. OC) Contact the insurer to correct the policy as per application and advise the adjuster. OD) Inform John that he needs to pay the outstanding $1 million. remaining Language: English Français Font Size: If a policyholder opts out of Direct Compensation Property Damage (DCPD) coverage by signing the OPCF49 and is involved in a not-at-fault loss, what damages can they recover from their insurance provider under this coverage? OA) Automobile repair costs OB) The value of the vehicle if it is written-off OC) Towing and storage expenses COD) They will not be able to recover damages.

As a result of an automobile accident, John, the insured was sued and the plaintiff was awarded $2 million. John was told that the limit on his policy is $1 million. John asks for the completed and signed automobile application. When the Broker retrieves the application, signed a year ago, they notice that the limit stated was in fact $2 million. What should the Broker do? OA) Modify the original application to $1 million. OB) Send the application to John and acknowledge the error. OC) Contact the insurer to correct the policy as per application and advise the adjuster. OD) Inform John that he needs to pay the outstanding $1 million. remaining Language: English Français Font Size: If a policyholder opts out of Direct Compensation Property Damage (DCPD) coverage by signing the OPCF49 and is involved in a not-at-fault loss, what damages can they recover from their insurance provider under this coverage? OA) Automobile repair costs OB) The value of the vehicle if it is written-off OC) Towing and storage expenses COD) They will not be able to recover damages.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
See similar textbooks
icon
Related questions
Question

Pls help ASAP

As a result of an automobile accident, John, the insured was sued and the plaintiff was awarded $2 million. John was told that the limit on his policy is $1 million. John asks for the completed and signed automobile application. When the Broker retrieves the application, signed a year ago, they notice that the limit stated was in fact $2 million. What should the Broker do? OA) Modify the original application to $1 million. OB) Send the application to John and acknowledge the error. OC) Contact the insurer to correct the policy as per application and advise the adjuster. OD) Inform John that he needs to pay the outstanding $1 million.
Transcribed Image Text:As a result of an automobile accident, John, the insured was sued and the plaintiff was awarded $2 million. John was told that the limit on his policy is $1 million. John asks for the completed and signed automobile application. When the Broker retrieves the application, signed a year ago, they notice that the limit stated was in fact $2 million. What should the Broker do? OA) Modify the original application to $1 million. OB) Send the application to John and acknowledge the error. OC) Contact the insurer to correct the policy as per application and advise the adjuster. OD) Inform John that he needs to pay the outstanding $1 million.
remaining Language: English Français Font Size: If a policyholder opts out of Direct Compensation Property Damage (DCPD) coverage by signing the OPCF49 and is involved in a not-at-fault loss, what damages can they recover from their insurance provider under this coverage? OA) Automobile repair costs OB) The value of the vehicle if it is written-off OC) Towing and storage expenses COD) They will not be able to recover damages.
Transcribed Image Text:remaining Language: English Français Font Size: If a policyholder opts out of Direct Compensation Property Damage (DCPD) coverage by signing the OPCF49 and is involved in a not-at-fault loss, what damages can they recover from their insurance provider under this coverage? OA) Automobile repair costs OB) The value of the vehicle if it is written-off OC) Towing and storage expenses COD) They will not be able to recover damages.
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS