Which of the following is NOT a reason an insurer can cancel an automobile policy before the term expires?

The premiums are not paid.

The insured committed fraud.

The terminating age for coverage has been reached.

Its contract with the agent has ended.

Answer: d

State Property and Casualty

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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? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

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In an insurance contract, the applicant's "consideration" is the
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The voluntary relinquishment of a legal right is called
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