Identify the Following Terms

question 92

Short Answer

Identify the following terms.
-Song Taizu

---

Definitions:

Coinsurance Clause

A provision in certain insurance policies requiring the policyholder to bear a specified percentage of the costs of covered services.

Property Insurance

Insurance coverage that provides protection against most risks to property, such as fire, theft, and some types of weather damage.

Fair Market Value

The price that a property would sell for on the open market between a willing buyer and a willing seller, with neither being required to act, and both having reasonable knowledge of the relevant facts.

Indemnity Contracts

Agreements that provide protection or security against potential loss or damage, often requiring one party to compensate the other for any loss or damage incurred.