General Insurance PrinciplesPregunta 174 de 474
After a kitchen fire the insured refuses to submit a proof of loss or let the adjuster inspect the damage. The insurer may resist paying because the policy is:
a.personal, so the insurer selected this particular individual to insure
b.unilateral, so the insured has no duties at all under the contract
c.aleatory, so the insurer's obligation turns entirely on chance events
d.conditional, so the insurer's duty depends on the insured performing
Explicación
A conditional contract makes each side's obligation depend on conditions being met, and the duties after loss, giving notice, protecting property, submitting a proof of loss and cooperating with the investigation, are those conditions. The unilateral answer overstates a real feature: the insured has no enforceable promise to pay premium, but the policy still imposes conditions that must be satisfied before payment is owed.
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Preguntas relacionadas de este tema
- Describing an insurance policy as a contract of adhesion means that:
- An insured pays $1,400 of premium and later collects $90,000 after a fire. This unequal exchange of value shows that the policy is:
- An insurance policy is classified as a unilateral contract because:
- An insured sells her house and tries to hand her homeowners policy to the buyer. Under the personal-contract rule:
- The doctrine of utmost good faith in insurance contracting means that:
- The difference between a representation and a warranty on an insurance application is that a warranty:
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