Study guides, Class notes & Summaries

C12 - Insurance on Property – Midterm Latest Update Graded A+ Defining Property Insurance -Protection against loss/damage to property -First party insurance -Premium exchanged for protection -Fortuitous losses (sudden and accidental) -Insurable interest -Intangible product Real vs Personal Property R: buildings or land (can't be moved) P: office desk or machinery (can be transported) Promise that Property Insurance is based on -Insured promise to pay a premium -Insurers p...

Defining Property Insurance - ️️-Protection against loss/damage to property -First party insurance -Premium exchanged for protection -Fortuitous losses (sudden and accidental) -Insurable interest -Intangible product Real vs Personal Property - ️️R: buildings or land (can't be moved) P: office desk or machinery (can be transported) Promise that Property Insurance is based on - ️️-Insured promise to pay a premium -Insurers promise to protect and indemnify Five elemen...

Defining Property Insurance - ️️-Protection against loss/damage to property -First party insurance -Premium exchanged for protection -Fortuitous losses (sudden and accidental) -Insurable interest -Intangible product Real vs Personal Property - ️️R: buildings or land (can't be moved) P: office desk or machinery (can be transported) Promise that Property Insurance is based on - ️️-Insured promise to pay a premium -Insurers promise to protect and indemnify Five elemen...

C12 - Insurance on Property – Midterm Exam Questions and Answers 100% Pass Defining Property Insurance - Correct Answer ️️ --Protection against loss/damage to property -First party insurance -Premium exchanged for protection -Fortuitous losses (sudden and accidental) -Insurable interest -Intangible product Real vs Personal Property - Correct Answer ️️ -R: buildings or land (can't be moved) P: office desk or machinery (can be transported) Promise that Property Insurance is b...