Which type of authority does an insurer give to its agents by means of the agent's contract?
Which type of authority does an insurer give to its agents by means of the agent's contract?
A) General.
B) Express.
C) Implied.
D) Fiduciary.
Answer: B
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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