Before an Insured Party Can Place a Claim on Their

question 44

Multiple Choice

Before an insured party can place a claim on their policy,they must prove:

• A)they have suffered a loss because of the damage to or destruction of the property insured.
• B)they have an insurable interest in the property insured.
• C)they have either a legal or an equitable interest in the property insured.
• D)they are the owner of the property insured.

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Definitions:

Repatriation

The process of returning a person to their country of origin or citizenship, often used in the context of employees returning home after international assignments.

Foreign Assignments

Work tasks or roles allocated to employees in a location outside of their home country, typically as part of international business operations.

Parent Company

A corporation that owns enough voting stock in another firm to control its management and operations by influencing or electing its board of directors.

Foreign Direct Investment

An investment made by a firm or individual in one country in business interests in another country, in the form of either establishing business operations or acquiring business assets in the other country.