C12 - Insurance on Property – Midterm Exam | Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+
Defining Property Insurance : -Protection against loss/damage to property -First party insurance -Premium exchanged for protection -Fortuitous losses (sudden and accidental) -Insurable interest -Intangible product Real vs Personal Property : R: buildings or land (can't be moved) P: office desk or machinery (can be transported) Promise that Property Insurance is based on : -Insured promise to pay a premium -Insurers promise to protect and indemnify 2 | P a g e Five elements of an Insurance Contract : 1. Agreement (offer and acceptance) 2. Capacity to contrac
Escuela, estudio y materia
- Institución
- C120
- Grado
- C120
Información del documento
- Subido en
- 22 de abril de 2024
- Número de páginas
- 43
- Escrito en
- 2023/2024
- Tipo
- Examen
- Contiene
- Preguntas y respuestas
Temas
-
c12 insurance on property midterm exam quest
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