An all-risk or open-perils policy protects against:

A) named perils unless otherwise excluded.

B) any peril except those that are specifically excluded.

C) any peril.

D) only stated perils.

Answer: B

Property

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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?

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