Identify the Homeowners Section II Condition That Provides Coverage Separately

question 36

Multiple Choice

Identify the homeowners Section II condition that provides coverage separately to each insured, although the total available for any one occurrence is the limit shown in the declarations.

• A)"Severability of insurance"
• B)"Suit against us"
• C)"Bankruptcy of an insured"
• D)"Limit of liability"
• E)"Duties after loss"

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Definitions:

Consolidated Financial Statements

Financial statements that present the assets, liabilities, equity, income, expenses, and cash flows of a parent company and its subsidiaries as if they were a single economic entity.

Accounting Effects

The impacts on a company's financial statements resulting from transactions, changes in accounting policies, or economic events.

Dividend Elimination

The process of removing intercompany dividends out of consolidated profit to avoid double counting when preparing consolidated financial statements.