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Maine Property and Casualty Licensing Textbook
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9
November 2024
2024/2025
A+
Insurance - answer-the transfer of financial responsibility associated with a potential of a lost to an insurance company, which in turn spreads the costs of unexpected losses to many individuals.
Indemnity - answer-A provision in an insurance policy that states an insured is permitted to collect only to the extent of their financial loss and cannot make financial gains.
Insurable Interest - answer-Any interest an insured may have in property that is the subject of insurance. Such as a mon...
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