Al has an umbrella liability policy which does not pay damages until such time as Al is legally obligated to pay them. This type of policy is known as:

A reimbursement policy.

A pay-on-behalf-of policy.

An indemnification policy.

An obligation policy.

Answer: An indemnification policy.

Alabama 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?

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In an insurance contract, the applicant's "consideration" is the
Agents may be found guilty of defamation if they make a false statement that is intended to?
How many pair of glasses in a 12-month period will a vision expense insurance plan cover?
The voluntary relinquishment of a legal right is called
What documentation grants express authority to an agent?
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All of the following are true regarding a decreasing term policy EXCEPT
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All of the following are elements of an insurance policy EXCEPT
What would be an expense factor in an insurance program?
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What documentation grants express authority to an agent?

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