If a Provision in an Insurance Policy Is Ambiguous,the Provision

question 13

True/False

If a provision in an insurance policy is ambiguous,the provision will be interpreted against the insurance company.

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Definitions:

Inputs

Inputs like workforce, raw materials, and funds that are employed in the manufacturing process to produce products or services.

Output

The total amount of goods or services produced by a business, industry, or country.

Isoquant

A curve representing all combinations of inputs that produce the same level of output, used in the analysis of production decisions.

Slope

The measure of the steepness or incline of a line, representing the ratio of the vertical change to the horizontal change.