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Author Question: An elimination (waiting) period is an example of a(n) A) exclusion. B) deductible. C) ... (Read 58 times)

Tazate

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on: Jul 11, 2018
An elimination (waiting) period is an example of a(n)
 
  A) exclusion.
  B) deductible.
  C) other-insurance provision.
  D) coinsurance provision.

Question 2

James purchased liability insurance with a 100,000 limit from Insurer A. When Insurer A denied a claim that James thought should be covered, he bought a second liability insurance policy with a 150,000 limit from Insurer B.
 
  Before he cancelled the policy with Insurer A, a 60,000 loss occurred. If this loss is settled on a pro rata basis, how much must each insurer pay?
  A) Insurer A will pay 10,000 and Insurer B will pay 50,000.
  B) Insurer A will pay 20,000 and Insurer B will pay 40,000.
  C) Insurer A will pay 24,000 and Insurer B will pay 36,000.
  D) Insurer A will pay 40,000 and Insurer B will pay 20,000.


tofugiraffe

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

Answer: B

Answer to Question 2

Answer: C


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