The Magnitude of Mafiaboy Damage Was Estimated to Exceed at Least

question 7

Multiple Choice

The magnitude of Mafiaboy damage was estimated to exceed at least:

• A)$1 billion.
• B)$100 million.
• C)$10 million.
• D)$500 million.

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Definitions:

Insurable Interest

A legal requirement for obtaining insurance policies, stipulating that the policyholder must stand to suffer a financial or personal loss from the insured event.

Appraisal Clause

A provision in insurance policies allowing for a neutral party to determine the value of property or the extent of damage in case of disagreement.

Insurance Policy

A contract between an insurance company and the policyholder which outlines the terms, coverage, and conditions under which the insurer agrees to compensate the insured for losses.

Impartial

Not biased, fair; not favoring one side over another.