Pls help ASAP Which one (1) of the following is the subject of a Statutory Condition in a Property policy?OA) Misrepresentation.OB) Basis of claims payment.OC) Replacement cost.OD) Co-insurance. After a loss, the insured is required to submit a "Proof of Loss" form to the insurer. What is its purpose?OA) It is the receipt given to the insurer by the insured following payment of the claim in full.O B) To provide fire and theft statistics to government.OC) It requires the insured to describe the damaged property and estimate its value.OD) It protects the insurer from paying twice for the same damaged property.

Misrepresentation: Misrepresentation is the act of providing false, incorrect, or misleading…

Answered: Which one (1) of the following is the…

Which one (1) of the following is the subject of a Statutory Condition in a Property policy? OA) Misrepresentation. OB) Basis of claims payment. OC) Replacement cost. OD) Co-insurance.

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Chapter1: Making Economics Decisions

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Concept explainers

Moral Hazard

The moral is a person's behavior towards himself /herself, society, organization, and others. Hazard is something that is happening and is not good. A person may be morally good or bad. It depends on his attitude, ethics, integrity, and values. A person may have the highest reverence for money to that for the truth. In this case, the person may lie and it is said that the person is morally bad.

Question

Pls help ASAP

Which one (1) of the following is the subject of a Statutory Condition in a Property policy?
OA) Misrepresentation.
OB) Basis of claims payment.
OC) Replacement cost.
OD) Co-insurance.

After a loss, the insured is required to submit a "Proof of Loss" form to the insurer. What is its purpose?
OA) It is the receipt given to the insurer by the insured following payment of the claim in full.
O B) To provide fire and theft statistics to government.
OC) It requires the insured to describe the damaged property and estimate its value.
OD) It protects the insurer from paying twice for the same damaged property.

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