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    Question

    A policy that can be cancelled or have the premiums

    raised by the insurer on a specific anniversary date, subject to certain reasons written into the policy is known as?
    A Conditional Contract Correct Answer Incorrect Answer
    B Conditional Receipt Correct Answer Incorrect Answer
    C Conditional Renewable Correct Answer Incorrect Answer
    D Consequential loss Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    A consequential loss is an indirect loss resulting from an insured's inability to use business property or equipment. A business owner may purchase insurance to protect them against the secondary loss of property and equipment due to a natural disaster or accident

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