Pls help ASAP caisOA) Co-insurance.OB) Subrogation.OC) Arbitration.OD) Actual Cash Value.Font Size:In settlement of a loss, an insurer recognizes the replacement cost of the property, less depreciation, by considering the conditionof the property immediately before the damage, its resale value and normal life expectancy and then pays the loss based uponthe figure so determined. What is the insurance term that best describes this?A A Which one (1) of the following statements regarding the Uninsured Automobile Coverage in your insured's O.A.P. 1 Owner's Policypolicy is correct?OA) It provides coverage for liability to others in case your insured forgets to renew his/her policy.OB) It only covers bodily injury but never accidental damage to the insured's own automobile.OC) It includes a certain amount of coverage for accidental damage to the insured's automobile caused by a hit and runautomobile, where neither the owner nor driver of the other automobile is identified.OD) It includes a certain amount of coverage for accidental damage to the insured's automobile provided the owner or driverof the uninsured automobile is identified.

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Answered: In settlement of a loss, an insurer…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter9: Decision Making Under Uncertainty

Section: Chapter Questions

Problem 37P

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20
Your insured telephones to report his/her parked car was struck by a hit-and-run vehicle and badly damaged. The incident was not witnessed and no details are known of the vehicle or driver causing the damage. What coverage under your insured's automobile policy, O.A.P. 1 Owner's Policy, would be needed for the damage to your insured's car to be covered? OA) Direct Compensation-Property Damage Coverage (Section 6). OB) Specified Perils (Section 7.1.2 A). OC) Collision (Section 7.1.2 C). OD) Uninsured Automobile Coverage (Section 5).
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7
All of the following are sources of information to an insurance company pertaining to the insurability of an applicant except A) The applicant's personal appearance B) Medical examination report C) Agent's inspection report D) Government tax records
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Mr. and Mrs. Trump have applied to the Trustworthy Insurance Co. for insurance on Mrs. Trump's diamond tiara. The tiara is valued at $97,000. Trustworthy estimates that the jewelry has a 2.8% chance of being stolen in any one year. Use expected values to determine the annual insurance premium p. (Round your answer to two decimal places.) p ≥ $
The two primary goals of the claims function are keeping the insurer’s promise and supporting the insurer’s profit goal. True False
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Pls help ASAP
A mortgage loan in which a large portion of the borrowed principal is repaid at the and of the loan period is known as at A) FHA mortgage. B) balloon mortgage. C) qualified mortgage. D) deferred-payment mortgage.
mmen 94. if an insured dies during the grace period and the premium has not been paid, which The policy has lapsed and no benefit will be paid A pro-rated benefit will be paid based on the amount of time over due The death benefit will be paid less the premium due The beneficiary must reinstate the policy to receive benefits I

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