Which of the Following Statements Is (Are)true Concerning the Self-Insured

question 30

Multiple Choice

Which of the following statements is (are) true concerning the self-insured retention (SIR) under a commercial umbrella liability policy?
I.The SIR applies to claims covered by the umbrella policy but not by any underlying insurance.
II.The SIR only applies to those claims for which the underlying policy has paid first,and the umbrella policy is paying on an excess basis.

• A)I only
• B)II only
• C)Both I and II
• D)Neither I nor II

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Definitions:

Principles of Psychology

Fundamental concepts, theories, and practices that underpin the study of the human mind and behavior.

The New Science

Often refers to modern fields of scientific inquiry that break traditional boundaries or introduce innovative methods.

The Abstract Mind

The abstract mind encompasses the cognitive ability to understand concepts that are not directly related to concrete physical experiences or objects.

Introspection

The examination of one's own thoughts and feelings, a reflective process that is internal and subjective.