need help asap Your insured resides in a frame dwelling. A local by-law requires that if the dwelling is totally destroyed, it must berebuilt with masonry construction. Would special attention be required for your insured's Homeowners policy?OA) No, the Homeowners policy automatically provides for increased costs stipulated in a by-law.OB) Yes, the appropriate by-laws endorsement must be added and the amount of insurance must be increased tocover the cost of masonry construction.OC) Yes, the appropriate by-laws endorsements must be added to the policy.OD) Yes, a Replacement Cost endorsement must be added to the policy. Your insured's young son has just purchased an automobile and wants you to insure it in his father's name and showhimself as an occasional driver. Which one (1) of the following steps should you take?OA) Issue the policy as requested.OB) Decline to issue the policy as the son is obviously the principal driver and registered owner.OC) Place the policy with another insurer and rate the father as the principal driver.OD) Advise the son to register the vehicle in his mother's name and rate it on her driving record.

Note: As per bartleby guidelines in case multiple questions are asked by the students then the…

Answered: Your insured resides in a frame…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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If an insurer wishes to cancel a health insurance policy, it can do so: OA B. O C O D. in Florida as long as premiums are returned on a short-rate basis with a 45-day notice to the policyholder with notice to the Department of Financial Services as long as no daim is pending
1657739 Florida law requires an entity to obtain what document from the Office of Insurance Regulation (OTR) prior to tra OA. Business license. Certificate of authority Insurance certificate Evidence of reinsurance B. O C. O D.
Explain Tolerable exception rate?
50 questions remaining Which one (1) of the following situations may have an effect upon the premium charged for a Homeowners Comprehensive policy/ A) Theft coverage on unscheduled jewellery up to a $2,000 limit. B) The house is unoccupied for three (3) months during the winter. DC) The insured installs a wood burning stove. D) The insured's mother-in-law moves into the house.
Your insured telephones to report his/her parked car was struck by a hit-and-run vehicle and badly damaged. The incident was not witnessed and no details are known of the vehicle or driver causing the damage. What coverage under your insured's automobile policy, O.A.P. 1 Owner's Policy, would be needed for the damage to your insured's car to be covered? OA) Direct Compensation-Property Damage Coverage (Section 6). OB) Specified Perils (Section 7.1.2 A). OC) Collision (Section 7.1.2 C). OD) Uninsured Automobile Coverage (Section 5).
One of three tenants in your insured’s rented triplex, sets fire to his apartment, is charged with arson and jailed. Next day the tenant's wife bails out her husband who allegedly set the fire and they return to live in the damaged apartment. The insurance company wishes to retire from this risk as soon as possible. What procedure must the insurer follow to legally cancel the policy? O A) Insurer can cancel in five days by written notice of termination personally delivered and any return premium paid to insured. O B) Insurer cannot cancel the policy mid-term and must remain on risk until the renewal date. O C) Cancellation can only be made fifteen (15) days following receipt of cancellation notice by registered mail. O D) Policy must remain in force but any additional damage done by the tenant will not be covered."
A fitness club gives clients free month after they have paid for eleven months. Approximately half of their clients remain with the club long enough to take advantage of this offer? Required: a. Define the term “liability.” Then explain whether the free month offer results in a liability for the fitness club. b. Explain what makes a liability “current.” Then explain whether the free month results in a current liability for the fitness club. c. Define the term “contingent liability.” Then explain whether the free month results in a contingent liability for the fitness club.
If an insured voluntarily gives up the life insurance contract, the policy is A) Foreclosed B) Lapsed C) on extended warranty D) reinstated
1. Reinstatement of a life insurance policy requires an insured to take all of the following actions EXCEPT: A. provide evidence of insurability B. make collateral assignment to the insurer C. pay back interest on any outstanding policy loa D. pay all past-due premiums
11 which of the following types of insurance best satisfies the need for permanent insurance protection A endowment B term C whole life D annuity
https://www.insurancejournal.com/news/southeast/2022/09/26/686645.htm 1. Who was the plaintiff and who is the defendant in this case? What remedy(s) was the plaintiff asking for the court to give? 2. Which aspect of "capacity" was the plaintiff in this case claiming was missing? Explain why. 3. What did the court rule and why? PLEASE ANSWER ALL 3 QUESTIONS IN AT LEAST 3-4 SENTENCES
6 if an insured dies during the grace period of a life insurance policy before paying the required annual premium the beneficiary will receive 1 A the cash value of the policy, if any B the full-face amount of the policy C the face amount of the policy less an required premiums D a refund of any premiums paid

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