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- Study guides, Class notes & Summaries
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Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks
were listed as additional interests on his homeowner policy. The insurance company will
make a payment to:
A. The first mortgagee, ABC
B. The Insured
C. Jointly to ABC and XYZ
D. All listed interests - CORRECT ANSWER D. All listed interests
Remember that the insurer is not responsible to know the degrees of interest. In the
event of a loss, one payment is made by the insurer and it is up to the additional
...
ngureadeykelvin
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