An admitted company is one that is:

A) on probation for admitting the commission of an insurance violation.

B) organized in another country, but approved for doing business in the United States.

C) qualified and licensed to do business in Nebraska.

D) found guilty of breaking the law.

Answer: qualified and licensed to do business in Nebraska.

Nebraska Law

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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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