πŸ“’ Too many exams? Don’t know which one suits you best? Book Your Free Expert πŸ‘‰ call Now!

  • google app store apple app store
  • βœ–

      Question

      Which principle specifies an insured should not collect

      more than the actual cash value of a loss?
      A Indemnity Correct Answer Incorrect Answer
      B Premium Correct Answer Incorrect Answer
      C Annuity Correct Answer Incorrect Answer
      D Liquidity Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Legal principle that specifies an insured should not collect more than the actual cash value of a loss but should be restored to approximately the same financial position as existed before the loss.

      Practice Next
      ask-question