The Concurrent Causation Exclusion in the Homeowners 3 Policy Specifies

question 1

Multiple Choice

The concurrent causation exclusion in the Homeowners 3 policy specifies that:

• A)if two or more perils jointly cause a loss,there is no coverage if one of the perils is excluded.
• B)if the insured has two or more policies in force at the time of the loss,the loss is not covered.
• C)if the insured has two or more policies in force at the time of the loss,the loss is pro-rated between the insurers.
• D)if two or more perils jointly cause a loss,there is coverage as long as one of the perils is covered.

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Definitions:

Inventory Holding Cost

Expenses related to storing unsold goods, including warehousing, insurance, depreciation, and opportunity costs.

Subcontractingcost

The expense incurred when a business hires outside contractors to perform tasks that could be done internally or as part of a project.

Inventory Holding Cost

Inventory holding cost refers to the total cost associated with storing unsold goods or materials, including warehousing, depreciation, insurance, and obsolescence costs.

Subcontracting

The practice of assigning part of the obligations and tasks of a contract to another party, often to specialize or expedite processes.