The Legal Definition of insurance:
A) is that insurance is a contract in which one party agrees to compensate another party for losses covered by the contract
B) is that insurance is a financial agreement that transfers the risk of insured losses to a risk pool by an insurer
C) differs from state to state
D) originally comes from tort law
Correct Answer:
Verified
Q1: All of the following are costs to
Q2: All of the following are perils except:
A)
Q4: Which of the following is the correct
Q5: Proximate cause means:
A) the first insured peril
Q6: The Financial Definition of insurance:
A) is that
Q7: The efficient insurance market requires all of
Q8: Legally insurance is a branch of:
A) contract
Q9: Which of the following is not a
Q10: It may be correctly claimed that insurers
Q11: The scope of insurance:
A) limits the tax-deductibility
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