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Which one (1) of the following statements is true about certain insurers? OA) A stock company is owned jointly by the insureds. OB) The Facility Association is an insurance cooperative. OC) Lloyd's of London is NOT an insurance company. OD) Mutual insurance companies are NOT required to be licensed by the Department of Insurance.

Which one (1) of the following statements is true about certain insurers? OA) A stock company is owned jointly by the insureds. OB) The Facility Association is an insurance cooperative. OC) Lloyd's of London is NOT an insurance company. OD) Mutual insurance companies are NOT required to be licensed by the Department of Insurance.

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Which one (1) of the following statements is true about certain insurers? OA) A stock company is owned jointly by the insureds. OB) The Facility Association is an insurance cooperative. OC) Lloyd's of London is NOT an insurance company. OD) Mutual insurance companies are NOT required to be licensed by the Department of Insurance.
Transcribed Image Text:Which one (1) of the following statements is true about certain insurers? OA) A stock company is owned jointly by the insureds. OB) The Facility Association is an insurance cooperative. OC) Lloyd's of London is NOT an insurance company. OD) Mutual insurance companies are NOT required to be licensed by the Department of Insurance.
The contents of a building are valued at $250,000 and insured subject to 90% co-insurance for $125,000. The policy has a $5,000 deductible clause. A fire causes $90,000 damage, how much will the policy pay? OA) $45,000.00 OB) $40,000.00 OC) $85,000.00 OD) $90,000.00
Transcribed Image Text:The contents of a building are valued at $250,000 and insured subject to 90% co-insurance for $125,000. The policy has a $5,000 deductible clause. A fire causes $90,000 damage, how much will the policy pay? OA) $45,000.00 OB) $40,000.00 OC) $85,000.00 OD) $90,000.00
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