Broad form indemnity agreements are the most common form of indemnity agreement. O True False What is the purpose of a Reservation of Rights Letter from an insurance company? The insurance company believes that the claim is covered by the policy, but it is stating the maximum amount of coverage available to pay obligations from the claim. The insurance company is informing their insured client that they believe that the claim is not covered by the insurance policy and that the insurance company "reserves the rights" not to defend the insured in court. The insurance company is informing their insured client that they believe that the claim is not covered by the insurance policy and that the insurance company "reserves the rights" to cancel the insurance policy. O The insurance company is informing their insured client that they believe that the claim is not covered by the insurance policy and that the insurance company "reserves the rights" not to pay the claim if it is determined that the claim is not covered by the policy. Once a reservation of rights letter is sent, the insurance company does not have to pay for the defense of the insured. True False The purpose of General Liability Insurance for a general contractor is to protect the general from claims resulting from malpractice, defective construction, and pollution. True O False