When an Insurer Agrees to Pay a Sum of Money

question 67

Multiple Choice

When an insurer agrees to pay a sum of money to a third party in exchange for the third party giving up his or her legal right to pursue litigation against the insured,this is called a(n) ________.

• A)settlement
• B)reservation of rights
• C)declaratory judgment
• D)indemnification

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Definitions:

Degree of Activity

The level or intensity of action or involvement in a particular process or situation.

Theoretical Model

A conceptual framework that explains phenomena through logically-structured principles and propositions.

Follower Traits

Characteristics of individuals that make them more likely to follow a leader effectively, including loyalty, motivation, and adaptability.

Theorizing About Followership

Engaging in developing concepts or models that explain the role, behaviors, and impact of followers in the leadership process.