The insurer's rights to recover and sell or otherwise dispose of insured property on which the insurer has paid a total loss are called

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The insurer's rights to recover and sell or otherwise dispose of insured property on which the insurer has paid a total loss are called

A. Fiduciary rights.

B. Salvage rights.

C. Constructive rights.

D. Catastrophe rights.

Answer: B

AINS Chapter 6

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

In insurance,

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