The Forfeiture Rule Provides the Right of the Insurer to Recover

question 51

True/False

The forfeiture rule provides the right of the insurer to recover the amount paid on a claim from a third party that caused the loss.

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Definitions:

Marginal Social Benefit

The extra advantage to the community that comes from the consumption or production of an additional unit of a product or service.

Pollution Emissions

The release of pollutants into the environment, usually from industrial processes, vehicles, or other sources, which can harm human health and the ecosystem.

Marginal Social Benefit

The additional benefit to society from producing one extra unit of a good or service.

Marginal Social Cost

The complete expense incurred by society when one more unit of a product or service is created, encompassing both personal expenses and any external factors.