Mr Jobes, a landlord has taken a fire insurance policy for his house from ABC insurance...
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Mr Jobes, a landlord has taken a fire insurance policy for his house from ABC insurance company. At the time of proposal he has disclosed that the building is rented out and is being used as an office. During the continuation of the policy the tenants vacate the building and the landlord subsequently rents it out to a person using it as a godown. After giving the rent to the tenant, the fire broke out issue has been occurred and the building has been damaged. Jobes has claimed the amount of loss from the insurance company. But insurance company has refused to pay the claim a) Why did ABC Insurance Company refuse to pay the claim? b) How Mr. Jobes can get the claim from insurance company? Mr Jobes, a landlord has taken a fire insurance policy for his house from ABC insurance company. At the time of proposal he has disclosed that the building is rented out and is being used as an office. During the continuation of the policy the tenants vacate the building and the landlord subsequently rents it out to a person using it as a godown. After giving the rent to the tenant, the fire broke out issue has been occurred and the building has been damaged. Jobes has claimed the amount of loss from the insurance company. But insurance company has refused to pay the claim a) Why did ABC Insurance Company refuse to pay the claim? b) How Mr. Jobes can get the claim from insurance company?
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Answer a ABC Insurance Company refused to pay the claim because the building was rented out and used ... View the full answer
Related Book For
Accounting Information Systems
ISBN: 978-1133935940
10th edition
Authors: Ulric J. Gelinas, Richard B. Dull
Posted Date:
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