In Order to Collect Compensation for a Loss Under a Fire

question 44

True/False

In order to collect compensation for a loss under a fire insurance policy,the insured must show an insurable interest.

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Definitions:

Technology

The application of scientific knowledge for practical purposes, especially in industry.

Early Neutral Evaluation (ENE)

A process similar to that of a settlement hearing, which may result in a final decision or be used to help shape the final decision.

Mediation

A form of alternative dispute resolution where a neutral third party helps disputants reach a voluntary, negotiated agreement.

Arbitration

Arbitration is a form of alternative dispute resolution where a neutral third party, known as an arbitrator, makes decisions to resolve a dispute outside of court.