Multiple Choice
Don obtains from Equity Insurance Company a policy that provides that if the parties cannot agree on the amount of a loss covered by the policy, an estimate of the value by an impartial third party can be demanded. This is
A) an antilapse clause.
B) an arbitration clause.
C) an appraisal clause.
D) an incontestability clause.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: The existence of an insurable interest is
Q3: Phil is an insurance broker. This means
Q4: The person who receives the proceeds under
Q5: Portia is the beneficiary of a life
Q6: An absolute defense against payment exists if
Q8: An incontestability clause prohibits an insurer from
Q9: Greg obtains from Hearthstone Insurance Company a
Q11: Orin is a doctor with Physicians Health
Q12: Country Club, Inc. applies for, and obtains,
Q64: Riverside Storage obtains a fire insurance policy