Title insurance premiums are filed with the Maryland Insurance Administration and remain in effect for how long?

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Title insurance premiums are filed with the Maryland Insurance Administration and remain in effect for how long?

A. 5 years
B. 7 years
C. 12 years
D. Until reviewed and approved

Answer: D. Until reviewed and approved

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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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