With Cancelable Policies, the Insurer Is Responsible Under a Binder

question 61

Multiple Choice

With cancelable policies, the insurer is responsible under a binder for losses that:

• A)occur due to pure risk exposures.
• B)the underwriter thinks are insurable.
• C)occur due to idiosyncratic risk exposures.
• D)occur throughout the term of the policy.
• E)occur prior to cancellation.

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Definitions:

Catholicism

The Christian denomination led by the Pope in Rome, characterized by its liturgical traditions, sacramental practices, and teachings laid out in the Catechism of the Catholic Church.

Philip II

King of Spain (1556-1598), under whose reign Spain reached the height of its influence and power, also ruling over the Netherlands and the Spanish colonies in the Americas.

Vanitas

Latin, “vanity.” A term describing paintings (particularly 17th-century Dutch still lifes) that include references to death.

Baldung

Hans Baldung, known as Baldung Grien, a German artist and printmaker from the Renaissance period, recognized for his striking and sometimes eerie depictions of religious scenes, mythology, and witchcraft.