That Part of a Loss That an Insured Must Pay

question 45

Multiple Choice

That part of a loss that an insured must pay is called a

• A) subrogation.
• B) deductible.
• C) risk of loss.
• D) casualty.

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Definitions:

Med-Arb

A hybrid dispute resolution process that combines both mediation and arbitration, where a neutral person mediates a dispute but can also make a binding decision if necessary.

Federal District Courts

The general trial courts of the United States federal court system where civil and criminal cases are filed and heard.

ADR

Alternative Dispute Resolution; methods for resolving disputes without litigation, such as arbitration or mediation.

Mediation

is a form of alternative dispute resolution where a neutral third party helps disputing parties to reach a mutually acceptable agreement.