An insurer owned by its policyholders is called a
An insurer owned by its policyholders is called a
A) stock insurer
B) reinsurer
C) mutual insurer
D) multi-line insurer
Answer: C) mutual 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