An Agreement by the Insurance Company to Extend Coverage to Perils

question 57

True/False

An agreement by the insurance company to extend coverage to perils not covered by the basic policy is called an insurable interest.

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Definitions:

Entrepreneurs

Individuals who organize and operate businesses, taking on greater than normal financial risks in order to do so.

Democratic Governance

A system of leadership or management where decisions are made based on the participation or approval of the majority of members or stakeholders.

Nonprofit Organizations

are entities operating for purposes other than generating profit, often focusing on social, educational, or charitable activities.

Normative Context

The social, cultural, or ethical standards and expectations that influence individuals' behaviors and interactions.