Henderson Owned a Concrete Block Building Valued at $20,000

question 36

True/False

Henderson owned a concrete block building valued at $20,000. Because it was virtually fireproof, he insured it for only $10,000 under a policy of insurance which contained an 80% coinsurance clause. Some time later, the building was damaged by fire. Under the co-insurance clause, the insurer would only be required to pay 80% of the face amount of the policy if the building was totally destroyed by fire.

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Definitions:

Global Explanations

Broad, generalized reasons or explanations for events or behaviors that extend beyond specific instances to form a general outlook.

Biopsychosocial Approach

A holistic perspective in health sciences that considers biological, psychological, and social factors and their complex interactions in understanding health, illness, and healthcare.

Self-focused Rumination

The process of continuously thinking about one's own personal issues, feelings, and experiences.

Serotonin Levels

refer to the concentration of serotonin, a key neurotransmitter in the human body that affects mood, emotion, and sleep.