The general rule that ambiguity in insurance contracts is construed against the insurer is reinforced by an important legal principle
This principle states the insured is entitled to coverage under a policy that he or she would assume the policy would provide, and exclusions must be conspicuous, plain, and clear. This principle is known as
A) the principle of utmost good faith.
B) the principle of reasonable expectations.
C) the principle of subrogation.
D) the principle of indemnity.
Answer: B
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Which of the following statements is true of the behavior of total variable costs, within the relevant range?
A) They will decrease as production increases. B) They will remain the same as production levels change. C) They will decrease as production decreases. D) They will increase as production decreases.
The Labor-Management Reporting and Disclosure Act is also known as the Taft-Hartley Act
Indicate whether the statement is true or false