Janet Hit a Wall Causing a Large Dent in the Fender

question 47

Multiple Choice

Janet hit a wall causing a large dent in the fender of her car.She was busy at work and delayed reporting the damage to her insurer for 9 months.When she finally reported the claim,her insurer denied payment,stating,"Although such a loss is usually covered,you are required under the terms of the contract to provide prompt notification in case of loss." The prompt notification requirement is an example of a(n)

• A)declaration.
• B)definition.
• C)insuring agreement.
• D)condition.

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Definitions:

Pyramid Of Social Responsibility

A model that outlines a corporation's obligations to stakeholder groups in a hierarchical manner, prioritizing economic, legal, ethical, and philanthropic responsibilities.

Ethical And Socially Responsible

Being ethical and socially responsible means conducting business in a manner that is fair, ethical, and conscious of the broader community and environmental impact.

Environmental Stewardship

The responsibility for environmental quality shared by all those whose actions affect the environment, emphasizing sustainable practices and conservation.