Which of the following statements regarding Section II conditions under the homeowners policy is true?
A) Other insurance is handled on a pro rata basis.
B) Under no circumstances may the insured bring a lawsuit against the insurer.
C) The liability limit is the same regardless of the number of persons injured in a covered occurrence.
D) There is no requirement for the insured to submit written notification of a possible claim to the insurer.
Answer: C
You might also like to view...
Under the Restatement (Second) of the Law of Agency, after which of the following situations would it usually not be necessary to notify third parties of the termination of an agency's existence?
A. The achieving of the agency's purpose. B. The destruction of the subject matter of the agency. C. A termination by mutual agreement. D. A termination by the principal.
Business ethics is a form of applied ethics that examines ethical principles and moral or ethical problems that arise in a business environment
Indicate whether the statement is true or false