If an Insured Has Fully Insured the Property with Two

question 14

Multiple Choice

If an insured has fully insured the property with two different insurers:

• A)The insurer with which the policy was first taken out must cover the claim.
• B)The insurer with which the policy was last taken out must cover the claim.
• C)The insurer must make an election as to which insurer to bring the claim with and that insurer can seek a pro rata contribution from the other insurer.
• D)The insured can recover the full amount of the loss from both insurers.

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Definitions:

Quakers

A religious group officially known as the Religious Society of Friends, known for their commitment to pacifism, simple living, and equality.

Massachusetts

Massachusetts is a state in the northeastern United States, known for its significant historical events, educational institutions, and being a leader in healthcare, technology, and innovation.

Public Financing

The provision of funds by the government to support the operations of public services or subsidies for private initiatives aimed at serving the public interest.

Anglican Church

The established state church of England, formed by Henry VIII after the Pope refused to annul his marriage to Catherine of Aragon.