A nonparticipating company is sometimes called a(n)
A nonparticipating company is sometimes called a(n)
A) alien insurer
B) mutual insurer
C) reinsurer
D) stock insurer
Answer: D) stock insurer
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