Bảo hiểm & Quyền cầm giữCâu 1528 / 1605
A 'waiver of subrogation' clause between an owner and contractor generally means:
a.The owner waives the right to a completed project
b.The contractor waives its mechanics lien rights
c.The insurer waives all coverage
d.Their insurers agree not to pursue each other to recover amounts paid for covered losses
Giải thích
A waiver of subrogation prevents each party's insurer from suing the other party to recover a covered loss, reducing litigation between project participants. It is a common risk-allocation tool in construction contracts, often paired with builder's risk coverage.
Luyện miễn phí toàn bộ 1605 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- An 'occurrence-based' CGL policy responds to a claim based on:
- On a private project financed by a construction lender, a subcontractor who fails to serve the preliminary notice on the LENDER primarily loses the ability to:
- 'Subrogation' in insurance refers to:
- A contractor who records a mechanics lien for an amount it knows is willfully overstated risks:
- Separate from project insurance, the CSLB requires every active licensed contractor to maintain a 'contractor's bond' (contractor license bond). Its main purpose is to:
- Which of the following is TRUE about the difference between the CSLB contractor's license bond and a project performance bond?
Cập nhật gần nhất: · quy trình kiểm tra
Sen Lin, Người sáng lập PrepPass · Đối chiếu với California CSLB Contractor License Law & Business Exam · Quy trình kiểm tra
Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)