Answered step by step
Verified Expert Solution
Question
1 Approved Answer
D Question 46 Mary, a small business owner, decides to purchase business insurance to protect her store from potential damages caused by fire. She contacts
D Question 46 Mary, a small business owner, decides to purchase business insurance to protect her store from potential damages caused by fire. She contacts Acme Insurance Company to obtain coverage. After reviewing the application and assessing the risks, Acme Insurance Company agrees to provide the insurance policy to Mary's business for $300 per month. All of the following are correct EXCEPT? O The premium is $300 per month. 1.82 pts O The insurance policy is categorized as property insurance, not casualty insurance. O Acme is the insured party; Mary's business is the underwriter. O Mary's business is the insured party; Acme is the underwriter
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started