Homework Help is Here – Start Your Trial Now!
Business
Business Law
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.

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.

Question

pls help ASAP

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.
Expert Solution
steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question

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.

Solution
Bartleby Expert
SEE SOLUTION
Similar questions
  • SEE MORE QUESTIONS