Insurance is a contract by which one party for a stipulated consideration promises to pay another party a sum of money on the destruction of,loss of,or injury to something in which the other party has an interest,or to indemnify that party for any loss or liability to which that party is subjected.
Correct Answer:
Verified
Q4: Any false statement in an application binds
Q7: An insurer may cancel any contract of
Q9: An insurance broker generally is an independent
Q9: The formation of a contract of insurance
Q10: A contract of insurance ordinarily is stated
Q12: Exceptions to coverage are generally strictly interpreted
Q12: Subornation is the right of a party
Q13: If an insurer denies liability for a
Q16: A contract of insurance is to be
Q19: The insured must comply with a number
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