Theta Ltd owned a widget worth $50 000.It purchased "full coverage" property insurance from Atlantic Insurance Co.It also bought "full coverage" property insurance from Pacific Insurance Co.The widget was destroyed by a fire.Theta Ltd received a $50 000 benefit from Atlantic Insurance Co.Atlantic Insurance Co has now sued Pacific Insurance Co.The best explanation for that action lies in the concept of
A) subrogation.
B) co-insurance.
C) contribution.
D) deductible.
E) fidelity.
Correct Answer:
Verified
Q54: The concept of an insurable interest
A)is aimed
Q55: Which of the following statements is TRUE
Q56: Aimee has just received a diamond ring
Q57: Which of the following statements is TRUE
Q58: Solace Insurance Company (SIC)sold an insurance policy
Q60: Pierce was looking at an open house
Q61: Raja gave a widget to Northwest Storage.Under
Q61: What is subrogation? What is indemnification? How
Q63: As a result of a bailment, Mitsu
Q74: "Property law, like nature, abhors a vacuum.Consequently,
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