If a Building Insured Against Fire Burns to a Source

question 69

True/False

If a building insured against fire burns to a source of fire totally unforeseen by the insured and the insurer,no obligation to indemnify rests upon the insurer.

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Definitions:

Behavioral Economics

The subfield of economics that integrates the insights of psychology

Inconsistent

Lacking compatibility or uniformity, or displaying variance and contradiction within a stated set of facts or values.

Promising

Showing signs of future success or positive outcomes; indicative of potential or likelihood to achieve something desirable.

Satisficer

An individual who makes decisions that are good enough under the circumstances, rather than striving for the optimal solution.