The personal feature of property insurance contracts means that: * OA) subrogation always applies B) ambiguities in the wording will always be construed against the insurer OC) insurance contracts cannot be freely transferred to other parties D) the buyer of insurance must have insurable interest in property before the policy is issued
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- Pls help ASAP1.) which of the following statements is incorrect about life settlement and variables A) the life insurance policy sold to a third party B) the purchase price equals all premiums paid up to the time of the sale C) the cash surrender value is always less than the purchase price D) the proceeds from the sale may be subject to taxesPractically demonstrate how the Principle of Outmost Good Faith the growth of Marine Insurance?
- 3. Which of the following coverage options would protect you if someone's insurance didn't cover enough of the damages? A. Uninsured motorist B. Property Damage Liability C. Comprehensive D. Bodilv Injury LiabilityWhat is the time period of performance that requires contracts to be in writing? оо a. If a contract cannot be performed within one month, it is unenforceable unless it is in writing. b. If a contract cannot be performed within six months, it is unenforceable unless it is in writing. C. If a contract cannot be performed within one year, it is unenforceable unless it is in writing. d. If a contract cannot be performed within two years, it is unenforceable unless it is in writing.Pls help ASAPon both pls
- If an insured voluntarily gives up the life insurance contract, the policy is A) Foreclosed B) Lapsed C) on extended warranty D) reinstatedIdentify and explain FOUR circumstances in which an assurance provider should decline a new assurance engagement.11 which of the following types of insurance best satisfies the need for permanent insurance protection A endowment B term C whole life D annuity
- Statement 1: A warranty is a written guarantee issued to the purchaser of an article by its manufacturer, promising to repair or replace it if necessary, within a specified period of time. Statement 2: Estimated warranty liabilities can be accounted for under accrual and expense as incurred approach. Both statements are correct. Only the second statement is correct. Neither of the statement is correct. Only the first statement is correct.68. if a policy loan is not repaid A Nonforfeiture is activated Interest on the loan accrues The incondensable period extended The policy lapses automatically1) summarizing whether you believe that contracts are promises 2) Analysis whether and why contracts and promises should be treated the same or differently 3) in your analysis, consider the potential economic, legal and moral consequences of your answer.