Why do insurers insist on exact identification of an insureds covered property?

Question:

Why do insurers insist on exact identification of an insured’s covered property?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Introduction to Risk Management and Insurance

ISBN: 978-0131394124

10th edition

Authors: Mark S. Dorfman, David Cather

See More Books

Question Posted: Dec 07, 2015 06:25 AM

See More Questions

Many insurers now use insurance scores in the underwriting and rating of a homeowners policy. a. What is an insurance score? b. Why do insurers use insurance scores in underwriting and rating?
On December 1, LoPrice Electronics has three DVD players left in stock. All are identical, all are priced to sell at $85. One of the three DVD players left in stock, with serial #1012, was purchased...
On December 1, Quality Electronics has three DVD players left in stock. All are identical; all are priced to sell at $85. One of the three DVD players left in stock, with serial #1012, was purchased...
Coffin Corporation appropriately uses the installment-sales method of accounting to recognize income in its financial statements. The following information is available for 2014 and 2015....
The student government association at a university wants to estimate the percentage of the student body that supports a change being considered in the academic calendar of the university for the next...
JFK Corp. factors $300,000 of accounts receivable with LBJ Finance Corporation on a without recourse basis on July 1, 2008. The receivables records are transferred to LBJ Finance, which will receive...
A company is considering the purchase of equipment for $270,000. Projected annual cash inflow from this equipment is $61,200 per year. The payback period is: a. 0.2 years b. 5.0 years c. 4.4 years d....
In May, Rebecca's daughter, Isabella, sustained a serious injury that made it impossible for her to continue living alone. Isabella, who is a novelist, moved back into Rebecca's home after the...
Ring World produces class rings. Its best-selling model has a direct materials standard of 9 grams of a special alloy per ring This special alloy has a standard cost of $65.90 per gram In the past...
Port Townsend Cedar Company acquired a saw for $34,000 with an expected useful life of 5 years and a $2,000 expected residual value. Prepare a tabular comparison (similar to Exhibit of the annual...
What role does the ISO play in the commercial property insurance market?
Identify some property excluded from coverage under the building and personal property coverage form.
Springsteen Inc. reported in a recent annual report Restricted cash for debt redemption. What section of the balance sheet would report this item?
Management is what tradition used to call a liberal art: "liberal" because it deals with the fundamentals of knowledge, self-knowledge, wisdom, and leadership; "art" because it is a practice and...
Draft a five hundred and twenty five- to seven hundred-word internal communication planthat appropriately details your proposed solution to the internal team at CVS PHARMACY. In your communication...
Christopher Awnings was founded by Christopher Aminim in the early days of the retirement boom in the Okanagan to build and install custom retractable awnings for retirees to keep the sun out of the...
Leaders are responsible for making decisions that have long-term ramifications; thus, making the appropriate decisions can be stressful and leaders' decisions may vary. They often enhance employee...
Employee longevity A large insurance company has developed a model to identify the factors associated with employee turnover. The dependent variable is number of years an employee stays with the...
Which of the following would not be a mineral interest? a. Production payment interest b. Working interest c. Overriding royalty interest d. Surface rights interest e. Net profits interest f. Royalty...
The water in tank A is at 270 F with quality of 10% and mass 1 lbm. It is connected to a piston/cylinder holding constant pressure of 40 psia initially with 1 lbm water at 700 F. The valve is opened,...
In the U.S. the Federal Bureau of Investigation (FBI) uses a Uniform Crime Reporting (UCR) system to track violent crimes (like murder) and property crimes (such as theft of motor vehicles or...
If Telco does nothing to manage copper price risk, what is its profit 1 year from now, per pound of copper that it buys? If it hedges the price of wire by buying copper forward, what is its estimated...
Compute estimated profit in 1 year if Telco buys a call option with a strike of $0.95, $1.00, or $1.05. Draw a graph of profit in each case. XYZ mines copper, with fixed costs of $0.50/lb and...
Compute estimated profit in 1 year if Telco sells a put option with a strike of $0.95, $1.00, or $1.05. Draw a graph of profit in each case. XYZ mines copper, with fixed costs of $0.50/lb and...
The company sold merchandise to a customer on March 31, 2020, for $100,000. The customer paid with a promissory note that has a term of 18 months and an annual interest rate of 9%. The companys...
imer 2 0 2 4 Question 8 , PF 8 - 3 5 A ( similar to ) HW Score: 0 % , 0 of 1 0 0 points lework CH 8 Part 1 of 6 Points: 0 of 1 5 Save The comparative financial statements of Highland Cosmetic Supply...
An investor wants to purchase a zero coupon bond from Timberlake Industries today. The bond will mature in exactly 5.00 years with a redemption value of $1,000. The investor wants a 12.00% annual...

Why do insurers insist on exact identification of an insureds covered property?

Question:

Step by Step Answer:

Insurers insist on an exact identification of an insured...View the full answer

Introduction to Risk Management and Insurance

Students also viewed these Corporate Finance questions