Explain what a guarantee fund is. How are guarantee funds financed?
What will be an ideal response?
A guarantee fund is designed to protect insureds from losses due to insolvent insurers. Guarantee funds are funded from assessments on all insurers doing business in a particular state.
Business
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The ________ of an organization is its set of distinctive capabilities that give it a distinctive edge
or cost benefit over its competitors. A) competitive heterogeneity B) competitive advantage C) competitive altruism D) competitive equilibrium
Business
Gerald Tee has a $50,000 property loss. His insurance policy's coverage limit is $35,000, and has a $500 deductible applied to the policy. How much will Gerald collect?
A) $50,000 B) $49,500 C) $35,000 D) $34,500
Business