An Insured's Lack of an Insurable Interest Is an Absolute

question 15

True/False

An insured's lack of an insurable interest is an absolute defense against payment.

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Definitions:

Regression Model

A statistical technique that models and analyzes the relationships between a dependent variable and one or more independent variables, used to predict the outcome of the dependent variable.

Number of Predictors

The total count of independent variables used in statistical models to predict an outcome.

Model Fit

The extent to which a statistical model describes the observed data effectively.

Dummy Variables

Variables used in regression analysis to represent categorical data, allowing such data to be included in statistical models.