Insurer a Began to Provide Crime Insurance Coverage for JKL

question 30

Multiple Choice

Insurer A began to provide crime insurance coverage for JKL Company three months ago.Insurer B provided coverage up until the time Insurer A's coverage became effective.Forty-five days after the effective date of Insurer A's coverage,a loss was discovered that occurred while Insurer B was providing coverage.The loss would have been covered under Insurer A's policy had it been in effect the previous period.Which policy provision in the current Insurer A policy would make Insurer A responsible for this loss?

• A)loss sustained during prior insurance not issued by us
• B)termination as to any employee
• C)extended reporting period
• D)loss sustained form

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Definitions:

Society's Values

The principles and moral standards that are considered important and upheld by a group or society.

Enforceable in the Courts

Refers to the characteristic of legal agreements or actions that can be upheld or compelled by a court of law.

Competitive Forces

The various external pressures and challenges that companies face in the market, including competition from rival firms, potential new entrants, substitute products, bargaining power of buyers, and bargaining power of suppliers.

Powerful Buyers

Buyers who have significant influence over suppliers due to their large volume of purchases, affecting terms and pricing in their favor.