Dash's Auto Insurance Policy Requires That He File a Written

question 11

Essay

Dash's auto insurance policy requires that he file a written notice of a claim with the insurance company within ten days of any damage in an auto accident or the insurance company may refuse to pay the damage claim.Dash has several accidents and always simply orally reports the damage to the insurance agent,and the insurance company pays the claim;however,on this occasion,after his failure to file a written notice of the claim,the company refuses to pay the claim.They cite the express language of the insurance policy.Is the insurance company correct? Discuss.

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Definitions:

Product Variety

Refers to the assortment of different goods and services that a firm offers to its customers, highlighting the diversity within a product line.

Welfare Enhancing

Activities, policies, or strategies that contribute to an improvement in the general well-being and quality of life of individuals or communities, often through the provision of public goods or redistribution of resources.

ATC

Average Total Cost; the total cost of production divided by the total output produced.

Economic Profits

The remaining amount after deducting total expenses from the total income, taking into account all direct and indirect costs.