Which of the Following Statements Is (Are)true with Respect to the Treatment

question 24

Multiple Choice

Which of the following statements is (are) true with respect to the treatment of legal defense costs under the ISO Commercial General Liability policy?
I.Legal defense costs usually are counted against the policy limit.
II.Once the insurer has paid out the applicable limit of liability,the insurer's duty to defend ends.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

Economic Stabilization

Actions by governments or central banks to maintain economic growth, control inflation, and reduce unemployment.

Keynesian Economics

An economic theory that advocates for active government intervention in the marketplace and monetary policy to stabilize economic fluctuations and boost demand.

Monetary Rule

A principle or guideline used by central banks to determine the amount of money supply growth necessary to influence interest rates and control inflation.

Price Stability

A situation in which prices in the economy do not change significantly in the short term and low inflation rates are maintained.