What does it mean when "an insured is indemnified by an insurer after a loss"? OA) The co-insurance conditions have been satisfied. OB) The insured was paid the amount of the loss. OC) Subrogation by the insurer against a third party had been successful. OD) The insurer had lost its rights of subrogation.

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What does it mean when "an insured is indemnified by an insurer after a loss"?
OA) The co-insurance conditions have been satisfied.
OB) The insured was paid the amount of the loss.
OC) Subrogation by the insurer against a third party had been successful.
OD) The insurer had lost its rights of subrogation.
Transcribed Image Text:What does it mean when "an insured is indemnified by an insurer after a loss"? OA) The co-insurance conditions have been satisfied. OB) The insured was paid the amount of the loss. OC) Subrogation by the insurer against a third party had been successful. OD) The insurer had lost its rights of subrogation.
The insured is covered under O.A.P. 1 Owner's Policy including Direct Compensation-Property Damage and is
involved in an accident in Ontario with an automobile, for which he/she is not at fault. His/her car is severely
damaged and personal belongings in the car are destroyed. Which one (1) of the following statements is correct?
OA) Damage to the insured's car and reimbursement for a rental vehicle are covered by the third party's policy.
OB) Damage to the insured's car, replacement of destroyed personal belongings and reimbursement for rental
vehicle are covered by the insured's policy, less the policy deductible.
OC) Damage to the insured's car, replacement of destroyed personal belongings and reimbursement for a rental
vehicle are covered by the third party's policy.
OD) Only damage to the insured's car and reimbursement for a rental vehicle are covered by the insured's
policy.
Transcribed Image Text:The insured is covered under O.A.P. 1 Owner's Policy including Direct Compensation-Property Damage and is involved in an accident in Ontario with an automobile, for which he/she is not at fault. His/her car is severely damaged and personal belongings in the car are destroyed. Which one (1) of the following statements is correct? OA) Damage to the insured's car and reimbursement for a rental vehicle are covered by the third party's policy. OB) Damage to the insured's car, replacement of destroyed personal belongings and reimbursement for rental vehicle are covered by the insured's policy, less the policy deductible. OC) Damage to the insured's car, replacement of destroyed personal belongings and reimbursement for a rental vehicle are covered by the third party's policy. OD) Only damage to the insured's car and reimbursement for a rental vehicle are covered by the insured's policy.
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The insured is covered under O.A.P. 1 Owner’s Policy including Direct Compensation-Property Damage and is involved in an accident in Ontario with an automobile, for which he/she is not at fault. His/her car is severely damaged and personal belongings in the car are destroyed. Which one (1) of the following statements is correct? O A) Damage to the insured's car and reimbursement for a rental vehicle are covered by the third party’s policy. O B) Damage to the

insured’s car, replacement of destroyed personal belongings and reimbursement for a rental vehicle are covered by the insured’s policy, less the policy deductible. O C) Damage to the insured’s car, replacement of destroyed personal belongings and reimbursement for a rental vehicle are covered by the third party's policy. O D) Only damage to the insured’s car and reimbursement for a rental vehicle are covered by the insured's policy.

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