The PRIMARY function of an umbrella liability insurance policy is to provide coverage for • A. personal property damage caused by inclement weather. B. legal claims that exceed the policyholder's primary liability insurance limits. C. multiple dwellings and vehicles under a single insurance policy. D. vehicles that are either rented or borrowed by the policyholder.

The PRIMARY function of an umbrella liability insurance policy is to provide coverage for • A. personal property damage caused by inclement weather. B. legal claims that exceed the policyholder's primary liability insurance limits. C. multiple dwellings and vehicles under a single insurance policy. D. vehicles that are either rented or borrowed by the policyholder.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

A mortgagee is entitled to certain consideration in the event of a loss to property when indicated as the mortgagee on an insurance policy. Which one (1) of the following is the consideration? OA) The mortgagee is entitled to the proceeds of the insurance to the extent of its financial interest in the property. OB) The mortgagee is entitled to the full proceeds of the insurance. OC) The insured and the mortgagee are permitted to consider the loss and decide between them how much each will receive. OD) The insurer pays the entire loss to the insured who is required to satisfy the mortgagee.
A "waiver-of-premium” clause: Select one: a. allows the person to purchase additional insurance at no extra cost means the insured will receive the cash value immediately allows an insurance agent to pay your premiums b. C. O d. waives the suicide clause e. pays premiums in the event of illness or disability Clear my choice
The Director of Insurance has the power to. make reasonable insurance rules and regulations determine standard insurance rales Veto insurance laws issue insurance policies
Why do you believe auto insurance companies provide premium relief?
It would be the owner's responsibility in the management agreement to: Require the manager to keep insurance on the property Require the owner to carry insurance on the property Require the tenants to carry insurance on the property Make all parties carry indemnity insurance
Hi please help with questions, below. Thanks much. What differentiates a current liability from a long-term liability? Share at least two examples of each. What are the differences in accounting for these two types of liabilities?
Identify and describe the personal risk that is mitigated by the purchase of disability income insurance;