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Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Victoria has her vehicle insured with DJB Insurance Company and she has recently had a claim. Victoria is not happy with the outcome of the claim and has been very rude to her Broker and Claims representative. DJB Insurance Company no longer wants to deal with Victoria so they sent her a letter notifying that her policy will be cancelled effective 30 days from when the letter was sent. Is the insurance company allowed to cancel Victoria's policy? OA) Yes, but only if she used profanity towards the staff members. OB) No, the insurance company does not have grounds to cancel her policy for this reason. OC) Yes, because the insurance company gave her 30 days notice. OD) No, the insurance company is only allowed to cancel the policy if the insured misses a payment.
Transcribed Image Text:Victoria has her vehicle insured with DJB Insurance Company and she has recently had a claim. Victoria is not happy with the outcome of the claim and has been very rude to her Broker and Claims representative. DJB Insurance Company no longer wants to deal with Victoria so they sent her a letter notifying that her policy will be cancelled effective 30 days from when the letter was sent. Is the insurance company allowed to cancel Victoria's policy? OA) Yes, but only if she used profanity towards the staff members. OB) No, the insurance company does not have grounds to cancel her policy for this reason. OC) Yes, because the insurance company gave her 30 days notice. OD) No, the insurance company is only allowed to cancel the policy if the insured misses a payment.
Which one (1) of the following is NOT the subject of a Statutory Condition? OA) Misrepresentation. OB) Protection of the property after loss. OC) Provisions for termination of the policy. OD) Basis for determining the amount of premium.
Transcribed Image Text:Which one (1) of the following is NOT the subject of a Statutory Condition? OA) Misrepresentation. OB) Protection of the property after loss. OC) Provisions for termination of the policy. OD) Basis for determining the amount of premium.
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