If a Material Change in Risk Occurs After a Fire

question 48

Essay

If a material change in risk occurs after a fire insurance policy has been entered into,what must the insured do in order to maintain his or her coverage? When this occurs,what options does the insurer have?

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Definitions:

Digestive Enzymes

Proteins secreted by the digestive system that break down food into nutrients that can be absorbed by the body.

Common Bile Duct

A tube that carries bile from the liver and gallbladder into the duodenum, the first part of the small intestine.

Gallbladder

A small organ located beneath the liver that stores and concentrates bile, aiding in the digestion of fats.

Pancreas

An organ in the body that produces insulin and enzymes important for digestion.