Use the List of Terms to Identify Each Lettered Part

question 15

Short Answer

Use the list of terms to identify each lettered part of the illustration.
-rapid growth

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Definitions:

Negligence

The failure to exercise the standard of care that a reasonably prudent person would have exercised in a similar situation, resulting in harm or damage.

Salvage

The right of the insurer to the property where the insured is compensated for the loss.

Indemnity

The concept that distinguishes a contract of insurance from a wager.

Utmost Good Faith

A principle of insurance contracts that requires all parties to act honestly and not mislead or withhold critical information from one another.