The Liability Coverage of the PAP Is Excess with Regard

question 21

Short Answer

The liability coverage of the PAP is excess with regard to a nonowned vehicle.If two excess policies apply, then the "other insurance" provision calls for a(n) _____ distribution of liability.

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Definitions:

Pricing Strategy

The approach a business takes to set the prices for its products or services, aiming to balance competitiveness with profitability.

Continuous Minimum Prices

A policy or practice of setting a floor price for goods or services that must always be met or exceeded.

Market Fluctuation Rate

The variation in market prices over a specified period, often influenced by economic factors, supply and demand.

Reduce Turnover

Strategies or practices employed by organizations to lower the rate at which employees leave and are replaced.