Cấu trúc & Điều khoản hợp đồngCâu 512 / 531
Insurers write exclusions into a property policy chiefly in order to:
a.Remove uninsurable or catastrophic exposures
b.Reduce the number of claims that get reported
c.Satisfy a federal standard on policy forms
d.Keep the insured from filing a lawsuit later
Giải thích
Exclusions keep the policy insurable and affordable by removing losses that are catastrophic or not accidental, exposures better handled by a different policy, and hazards only some insureds face and only they should pay for. Blocking lawsuits is not the purpose, and there is no federal standard dictating what a property form must exclude, since insurance is regulated primarily at state level.
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Câu hỏi liên quan cùng chủ đề
- A binder in property and casualty insurance is:
- The part of a policy in which the insurer states what it promises to do in return for the premium is the:
- A homeowners form places the phrase residence premises in quotation marks every time it appears. That signals the phrase:
- An endorsement is attached to a policy and its wording conflicts with the printed form. The result is that:
- An agent holding binding authority tells an applicant by phone that coverage is in force, and the building burns before any paperwork is issued. The likely outcome is that:
- Mid-term, an insurer broadens the coverage of its standard form without charging more for it. Under the liberalization clause the change:
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