Which One of the Following Explains the Effect of a Co-Insurance

question 90

Multiple Choice

Which one of the following explains the effect of a co-insurance clause?

• A) A co-insurance clause provides for the insurance company arranging their own insurance on a large policy.
• B) A co-insurance clause provides for several different properties being insured under the same policy.
• C) A co-insurance clause provides for more than one person paying the premium.
• D) A co-insurance clause provides for the insured to assume part of the responsibility for any loss.
• E) A co-insurance clause provides for the insurance claim to be split between two or more beneficiaries.

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Definitions:

Mission Statement

A formal summary of the aims and values of a company, organization, or individual, guiding its strategies and decision-making.

Idealistic

Characterized by the pursuit of high or noble principles, often unrealistically aiming for perfection.

Fact-based

An approach or decision-making process that relies on verifiable data and evidence.

Core Values

Fundamental beliefs of a person or organization. These guiding principles dictate behavior and can help people understand the difference between right and wrong.