Explain the right of subrogation. How does this feature help lower insurance costs?
Answer to relevant QuestionsWhat are the perils that most properties are insured for under various types of homeowner’s policies?Briefly explain the major types of coverage available under the personal auto policy (PAP). Which persons are insured under?(a) Automobile medical payments coverage(b) Uninsured motorist’s coverage?Differentiate between captive and independent insurance agents. What characteristics should you look for in an insurance agent and an insurance company when you’re buying property or liability insurance?1. Describe the key features of these insurance coverages.2. Are there any limitations on these coverages? Explain.3. Indicate the persons who would be protected under each type of coverage.4. What kind of insurance ...How does a primary market differ from a secondary market? Where are most securities traded: in the primary or the secondary market?
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