Which of the Following Is not Exclusion in a Typical

question 35

Multiple Choice

Which of the following is not exclusion in a typical HO-3 policy?

• A) Catastrophic events
• B) Coverage where another policy is specifically designed to provide coverage
• C) Failure of power or another utility
• D) All of the above are a typical exclusion in a HO-3 policy.

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Definitions:

Innovation

The act of introducing something new, such as an idea, method, or device, to improve processes, products, or services.

C Corporation

An organizational form for businesses where shareholders, the owners, face taxation independently from the corporation.

Shareholders

Individuals or entities that own shares in a corporation, thus having a claim on part of its assets and earnings.

Legally Liable

Being subject to legal responsibility or obligation, particularly in the context of lawsuits or compensations.