This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: When must an insurable interest legally exist in property insurance for an insured to receive ... (Read 83 times)

student77

  • Hero Member
  • *****
  • Posts: 567
on: Jul 11, 2018
When must an insurable interest legally exist in property insurance for an insured to receive payment for a loss from the insurer?
 
  A) only at the time of the loss
  B) only at the inception of the policy
  C) only at the time the loss settlement takes place
  D) both at the time of the loss and at the inception of the policy

Question 2

Sue's office building was damaged by a fire caused by a careless tenant. After paying Sue for the loss, the insurance company sued the tenant to recover its loss. This suit is based on the principle of
 
  A) warranty.
  B) insurable interest.
  C) utmost good faith.
  D) subrogation.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Jayson

  • Sr. Member
  • ****
  • Posts: 350
Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: A

Answer to Question 2

Answer: D


student77

  • Member
  • Posts: 567
Reply 2 on: Jul 11, 2018
Excellent

mcarey591

  • Member
  • Posts: 365
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

How to calculate compound interest (Part 2) How to calculate compound interest (Part 2)
How to calculate credit card interest when the interest is compounded How to calculate credit card interest when the interest is compounded
A $50 000 bond bearing interest at 6.5% bond payable semi-annually matures in 10 years. If it ... A $50 000 bond bearing interest at 6.5% bond payable semi-annually matures in 10 years. If it ...
Chelsea Donahue has a​ 20-year home mortgage of ​78,000 at​ 7.50% interest and will pay ... Chelsea Donahue has a​ 20-year home mortgage of ​78,000 at​ 7.50% interest and will pay ...
Find the proceeds of the following promissory note. A five-year, $4500.00 note bearing interest ... Find the proceeds of the following promissory note. A five-year, $4500.00 note bearing interest ...
Rita borrows $4,500 from the bank at 9 percent annually compounded interest to be repaid in ... Rita borrows $4,500 from the bank at 9 percent annually compounded interest to be repaid in ...
Video: Uterine (menstrual) cycle - phases

For a complete list of videos, visit our video library