An excess and surplus lines insurer is categorized as a(n):
An excess and surplus lines insurer is categorized as a(n):
(a.) Unauthorized insurance company
b. Authorized insurance company
c. Domestic insurer
d. Admitted insurer
Answer: A
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
Comments
Post a Comment