When Marnie arranged insurance cover for the contents of the home unit she shares with Rico she did not disclose that she had made two burglary claims in the past five years.Rico had no knowledge of these claims. Six months after Marnie entered the insurance contract their unit was burgled and they lost goods worth $7000.Which of the following statements is most likely to be true?
A) The insurer is obliged to pay Rico compensation for any goods that were solely his property.
B) The insurer is obliged to pay approximately $3500 to Rico.
C) The insurer can avoid paying any compensation.
D) The insurer may deduct the cost of half of the premiums paid by Marnie and Rico.
Correct Answer:
Verified
Q14: X insures his house for $100 000
Q15: When Otto applied for insurance cover for
Q16: The doctrine of indemnity applies to:
A)sickness policies.
B)motor
Q17: An insurer is not obliged to disclose
Q18: When Shelley was filling in a proposal
Q20: A person who completes a proposal form
Q21: Section 985B of the Corporations Act 2001
Q22: John is an agent who works on
Q23: Which of the following is not true
Q24: Which of the following statements best describes
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents