When a mutual insurer becomes a stock company, the process is called

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When a mutual insurer becomes a stock company, the process is called

A) Mutualization
B) Demutualization
C) Reinsurance
D) Reorganization

Answer: B) Demutualization

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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

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Hannah is six months pregnant when she switches jobs. Which law ensures that Hannah's "pre-existing condition" will be covered under her new health insurance plan?

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The voluntary relinquishment of a legal right is called
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