An insured owns 4 stores. As inventory is sold, the insured transfers new inventory from the other locations to the store making the sales. Which type of policy would best fit this insured's needs?

A) Scheduled policy.

B) Specific policy.

C) Value Reporting policy.

D) Blanket policy.

Answer: D

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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The voluntary relinquishment of a legal right is called
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