Examlex

Solved

Which of the Following Statements Is True

question 46

Multiple Choice

Which of the following statements is true?


Definitions:

Coinsurance Clause

A provision in an insurance policy that defines the percentage of the claim amount to be shared between the insurer and the insured.

Short-rate Refund

A return of a portion of the premium on an insurance policy that is canceled by the policyholder before its expiration, calculated at less than a pro-rata basis.

Premium Rate

The cost rate of insurance coverage per unit of coverage, reflecting the risk and administrative costs.

Coinsurance Clause

A provision in an insurance policy that defines the split of responsibility for payment between the insurer and the insured.

Related Questions