Sunny is currently living in Oshawa, Ontario while attending Durham College. For the long-weekend, Sunny drove home to visit his parents. While in Toronto, thieves broke into his apartment in Oshawa and stole his computer. When he filed a claim with his homeowners' insurance policy, Sunny decided to use the robbery as an opportunity to make a profit for his loss. He told his insurer that he lost his computer, T.V., Xbox. and some expensive college textbooks. What principle of insurance, if any, did Sunny violate and why?

Greg and Christine took out a mortgage together to buy a house in Toronto. Christine has life insurance, from her company benefit plan at work, and Greg is the named beneficiary. Greg on the other hand, does not own life insurance and does not want to buy it. If Christine decides to buy a life insurance policy on Gregs life, pay the premium, and name herself the beneficiary, what does she have to prove to the insurance company in order to buy the policy?

Sally has been selling cars for many years and has decided that she is going to open her own car dealership. She knows that her new business will face Exogenous and Endogenous risks. Using the appropriate risk management tools, how can Sally protect her business from these risk exposures?