Which of the following statements describes how losses will be settled if a property insurance policy is written on a replacement cost basis?
A) Losses are settled without the applicable deductible.
B) Losses are settled without a deduction for depreciation.
C) The insurer must replace the damaged or destroyed property in lieu of a cash settlement.
D) The policy is converted to a valued policy.
Answer: B
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Which one of the following provides a specialized sales or service strategy, offers support at various levels, and occasionally invests in the firm in exchange for periodic fees?
A) joint venture B) franchising C) licensing D) royalty
Informing (by an employee) an outside person or agency, such as a government agency or a newspaper or television reporter, about an organization's (its managers') illegal or immoral behavior is known as ________
A) moonlighting B) surface bargaining C) whistle-blowing D) circular logrolling