Question: A basic rule concerning who can be insured, states that before the insured can benefit from insurance, he or she must have a chance of

A basic rule concerning who can be insured, states that before the insured can benefit from insurance, he or she must have a chance of financial loss or have a financial interest in the property.

This is called

____________________.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Chapter 6 Defusing Negligence Liability Earlier in this book we discussed the concept of legal fault (blame) and legal obligation (liability). This chapter is devoted to the concept of managing the...

PREMIER / canada Form #$72061 (Rev. July 2019) D&O Smart - Complete Solution PLEASE READ CAREFULLY THIS INSURANCE POLICY IS WRITTEN ON A CLAIMS MADE AND REPORTED BASIS WITH ALL DEFENCE COSTS, CHARGES...

1. Hannah is applying for a life policy on her girlfriend Sarahs life. The policy is $500,000 and carries a large premium. Hannah is the main earner, so she is concerned about not being able to pay...

Research Paper: Topic: Why did the traditional financial risk approaches, methods, and tools fail in the financial market meltdown of 2008 - 2009? Discuss questions DQ #1: How has fair value...

Help please! I am trying to organize a paper to analyze an SEC 10K for the Pfizer company for a final project but I do not know where to start. Attached is the SEC 10K report, and I have to use three...

Q1. review case study #1 Understanding Your Employee Benefits: Investing in your Retirement found on page 123 of your textbook. Please post your answers to the two questions found at the end of the...

1. List and define the four type of damages, which are usually determined by the jury 2. Terry O'Rourke, a 25-year old patient of Dr. Williams, refuses to take her medication to control diabetes and...

Multiple Choice Questions Section 1. Which of the following method reduces the chance of less to A- Avoidance B-Risk retention C- Risk Reduction D- Risk financing 2. An earthquake is an example of...

commentthecaseofKeriChisolm,ofCostaMesa,California.DescribethereasonsforherdisciplineandhowitreflectsonhercompetenceasaCPA. pdf page 19 UPDATE SPRING/SUMMER 2016 ISSUE NO. 81 PRESIDENT'S MESSAGE One...

Suppose that a linear programming problem has 20 functional constraints in inequality form such that their right-hand sides (the bi) are uncertain parameters, so chance constraints with some a are...

Use Equation 17-12 to find the de Broglie wavelength of a proton (rest energy mc2 = 938 MeV) that has a kinetic energy of 2 MeV. 1240 eV - nm V2mc? K he =- 17-12 V2me? K

You are 1 7 years old and must choose a college to continue your education. With this scenario in mind, create a detailed SWOT analysis for attending NYC College of Technology. Each segment must be...

Draw a class diagram and its relationship based on the following statements. You can use any UML tool/software to represent your class diagram. Do NOT copy and paste your diagram, use the attachment...