Where an Insured Places Coverage with Three Different Brokers, Each

question 41

True/False

Where an insured places coverage with three different brokers, each broker will have to contribute to a loss, but the total paid to the insured may not exceed the loss itself.

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Definitions:

Company Databases

Collections of data and information regarding businesses, including their profiles, financials, and performance indicators, often used for research and analysis.

Intellectual Property

Legal rights that protect creations of the mind, such as inventions, literary and artistic works, and symbols.

Modern Entrepreneur

An individual who innovates and creates new business ventures utilizing contemporary technologies and business models, often in response to current market demands.

Coalition Building

The process of uniting groups with common interests to achieve a specific goal, often used in political and social movements.