In addition to the policy limits and a legal defense, the PAP provides for certain supplementary payments. Briefly describe the supplementary payments that can be paid under the liability section of the PAP.
Answer to relevant QuestionsExplain the duties imposed on the insured after an accident or loss occurs.Compensating innocent victims of high-risk drivers is problematic for society. An automobile insurance plan (assigned risk plan) is one approach to the problem of providing auto insurance to high-risk drivers.a. What is an ...Describe the characteristics of a reinsurance facility.Dan has a personal umbrella policy with a $1 million limit. The self-insured retention is $250. Dan has a homeowner’s policy with no special endorsements and an auto insurance policy. The policies have the following ...Kimberly owns and operates a tennis shop in a resort area.The business is seasonal. A large part of the annual revenues are due to sales in June, July, and August. Kimberly keeps the shop open during the remaining months of ...
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