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Author Question: What is the legal significance of a material misrepresentation in an insurance application? A) ... (Read 22 times)

geoffrey

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on: Jul 11, 2018
What is the legal significance of a material misrepresentation in an insurance application?
 
  A) The contract is automatically voided from its inception.
  B) The contract is voidable at the insurer's option.
  C) Loss payments are reduced by the degree of the misrepresentation.
  D) The insurer is immediately entitled to a higher premium.

Question 2

Which of the following statements about subrogation is true?
 
  A) It is used primarily for losses paid under life insurance policies.
  B) It allows the insurer to sue its own insured who is negligent.
  C) The insured's right to collect benefits may be forfeited if the insured interferes with the insurer's subrogation rights after a loss occurs.
  D) The insurer is required to exercise its subrogation rights.


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SeanoH09

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Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: B

Answer to Question 2

Answer: C


geoffrey

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Reply 2 on: Jul 11, 2018
Great answer, keep it coming :)

scikid

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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