Question: When is insurable interest required to exist on a property policy? A When the first premium is paid B At the time of loss C

When is insurable interest required to exist on a property policy?
A
When the first premium is paid
B
At the time of loss
C
At the time of application
D
At policy delivery

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!

Q:

Kasper is a trustee of the Lantry Charitable Trust. In February 2019, he draws 10,000 of the trust's money (in breach of the trust) and pays it into his own bank account in which he already has...

Q:

When is insurable interest required to exist on a property policy? A When the first premium is paid B At the time of loss C At the time of application D At policy delivery When is insurable interest...

Q:

n . of . 1 5 0 - Vhen is insurable interest required to exist with a property insurance olicy? At the time the policy is written but not at the time of loss. At all times during the policy life. At...

Q:

Julie and her husband Wright purchase and restore a building in downtown Lafayette. Their insurance agents tells that that for property insurance, an insurable interest must exist: at the time the...

Q:

I want to know someone 's opinion about this discussion is there any one can share it with me please? Johnny Dedman(Dedman) has a $10,000.00 certificate of deposit(CD) that he owns with his sister...

Q:

Broker is someone who legally represents the insured even though he or she receives a commission from the insurer. Group of answer choices True False Flag question: Question 2 Question 21 pts A...

Q:

An application for insurance: ______. a.generally is attached to the policy and becomes a part of the insurance contract. b.has no binding effect on the applicant. c.may be oral. d.must be prepared...

Q:

8- Jamison buys life insurance and specifies his wife Stephanie will receive the death benefit if Jamison passes away. Stephanie is the __________. Multiple Choice assignee insured subrogee...

Q:

Boris and Natasha Badenov eloped from Russia to Canada in 2 0 2 0 . They got married in Vancouver and settled down. Boris had been a successful vodka distiller in Russia, and he was able to pay for a...

Q:

For property and casualty insurance policies, insurable interest must exist: A At the time a premium is paid B At the time a claim is paid C At the time a loss occurs D At the time an application is...

Q:

Boris and Natasha Badenov eloped from Russia to Canada in 2020. They got married in Vancouver and settled down. Boris had been a successful vodka distiller in Russia, and he was able to pay for a...

Q:

Quantitative Problem 2: Hadley Inc. forecasts the year-end free cash flows (in millions) shown below. Year 1 2 3 4 5 FCF -$22.91 $38.1 $43.6 $52.2 $55.4 The weighted average cost of capital is 10%,...

Q:

Many young, inexperienced workers begin their careers in the unskilled labor market. Some remain unemployed and some get a job%u2014either full time or part-time. Tasks: The graph above represents...

Q:

5 The register of directors and secretaries must, so far as directors are concerned, give particulars in regard to each director of other directorships currently held and those which have been held...

Q:

The paralegal profession is directly regulated in many states, including South Carolina. True False

Q:

=+Discussion: How can we do a better job of anticipating and preventing cost overruns? Meeting will take place in Conference Room 3.

Q:

=+I will call the meeting to order. Site directors report: A closer look at cost overruns on Greentree site. The group will review and approve the minutes from last quarters meeting.

Q:

=+6. Collaboration: Participating in Meetings [LO-3] With a classmate, attend a local community or campus meeting where you can observe