Pls help ASAP Which one (1) of the following statements is true about certain insurers?OA) A stock company is owned jointly by the insureds.OB) The Facility Association is an insurance cooperative.OC) Lloyd's of London is NOT an insurance company.OD) Mutual insurance companies are NOT required to be licensed by the Department of Insurance. The contents of a building are valued at $250,000 and insured subject to 90% co-insurance for $125,000. The policy has a $5,000deductible clause. A fire causes $90,000 damage, how much will the policy pay?OA) $45,000.00OB) $40,000.00OC) $85,000.00OD) $90,000.00

An insurance contract (policy) is a legal agreement wherein an insurer indemnifies another party…

Answered: Which one (1) of the following…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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