Why would an insured inflate claims and who are the ones to suffer for it?

Q: When a life insurance policy lapses, it: a. benefits the insured b. benefits neither the insurer nor…

A: When insured person fails to pay the premium on insurance than it is said that policy has lapsed and…

Q: It pertains to a risk management technique when acquiring a life insurance. * risk avoidance risk…

A: One of the risk management technique is Risk Transfer where one party transfer the risk to another.…

Q: What kind of insurance  forms may not be included in the comprehensive forms?

A: Insurance: Insurance is the protection against an individual or an asset for the financial losses…

Q: What percentage of their claims are the unsecured creditors likely to get?

A:

Q: In what circumstance would a property insurance claim be rejected?

A: An insurance claim is a written request for coverage or compensation from an insurance company for a…

Q: Which are the Borrower’s Rights to Reinstate?

A: The person that takes something from another person with a promise to return back at a specified…

Q: Which is not a management practice for reducing the problems of adverse selection and moral hazard…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: 4. An insured may not be compensated by the insurance company in an amount exceeding the insured's…

A: The following are some of the principles of insurance, they are Principle of contribution Principle…

Q: True or False? 1. An insurance contract is derecognized when it is extinguished and when it is…

A: An insurance contract is a contract between the two parties where one party promises to pay the…

Q: Were you correct that the pension liability is not reported in the balance sheet? What is the…

A: Pension refers to the accumulated amount of money that is added during the employment period of an…

Q: Type of long-term care policies Triggers to become eligible for benefits Exclusions

A: Point to be Noted:- Since you have asked questions with multiple sub parts. I will be answering…

Q: Which is not an essential characteristic of an insurance contract? A. transfer of significant risk…

A: Answer is A. transfer of significant risk from the issuer to the policyholder Explanation is given…

Q: What are the risks to the lender if a borrower declares bankruptcy?

A: Bankruptcy refers to a condition in which a borrower (business or an individual) is unable to pay…

Q: Which of the following is not an insurance management tool? Group of answer choices deductibles.…

A: Insurance management: Insurance Management is the administration of all insurance requirements, both…

Q: 21. What is the form that filled out by insured if a loss is suffered? *

A: Takaful is a sort of Islamic insurance in which members combine their funds to protect one another…

Q: Deductibles are not used in which of the following type of insurance?

A: Deductibles in insurance: The deductibles is an expense the insured have to pay in before the time…

Q: If the insured outlived the life insurance policy, the proceeds shall be taxable to the beneficiary…

A: If the insured outlived the life insurance policy, he/she will get his/her premium back, this…

Q: Who are front-line underwriters? What are premium volume and loss experience with the insurer? What…

A: Underwriters are the person who sell theshares on behalf of the firm. They are very useful for the…

Q: Which are the components of pension expense that involve delayed recognition?

A:

Q: Will the death of the principal debtor convert, decrease or nullify the substantive right of the…

A: Principal Debtor describes the natural individual or legal entity whose name appears on the…

Q: What are the instances when the debtor loses the benefit of the period? Explain by giving examples…

A: When a period for the performance or fulfillment of an obligation is agreed upon, it is believed to…

Q: f the renewal of the policy was at the discretion of the insurer, would you expect the premiums to…

A: Insurance renewal means that the coverage on insurance continues to exist after expiration of the…

Q: What does the affordable care act do for those not insured?

A: Affordable Care Act is a comprehensive healthcare reform which has been introduced from March, 2010,…

Q: Which principles ensures that an insured does not profit by insuring with multiple insurers?

A: The Principles of Contribution ensures that an insurance that an insured does not profit by insuring…

Q: What are the remedies that a mortgagor and mortgagee may avail if either of them fail to do their…

A: Mortgage loan (Background)   :             In a mortgage loan, the mortgagor obtains the loan to…

Q: What are the requisites of notice of dishonor.? Explain.

A: Introduction:- A notice of dishonor is a legal notice tells or expressed that the bank will not…

Q: Explain the rights of a creditor against a surety and the rights of a surety, including those of a…

A: Surety bond used to involve the promise through the one party by assuming the responsibilities…

Q: why is it important for insurance companies to manage underwriting risk?

A: in contract of insurance there is a guarantee by insurance that it will pay the damage or loss .…

Q: 1. Insurable interest refers to O A. the item to be insured should be legal and not against public…

A: Insurable Interest forms subject matter of all insurance policies and is defined as follows

Q: In Property and Casualty insurance when must an Insurable interest exist? O a. At the Start of the…

A: Life insurance covers the risk of life of insured. Non-life insurance may cover people, property or…

Q: Why is the Worker’s Compensation Insurance is an expensive type of insurance?

A: Worker’s Compensation Insurance- It is a kind of insurance where employees are provided with medical…

Q: Which of the following does not have a legitimate insurable interest? A) An individual on the life…

A: Insurable interest is a key component in insurance which basically ensures that insured person…

Q: One of the purposes that deductible are used in insurance policies is to O eliminate coverage for…

A: In insurance, deductibles are expenses that a person has to bear by him/herself before the benefits…

Q: Which of the following is correct about the effect of a deductible with respect to the price of an…

A: Insurance is an agreement or a contract between two parties. An insurance contract states that one…

Q: How does title insurance work? Why is it not absolute (fool-proof

A: Title insurance is that insurance product that is related to the world of real estate. It is an…

Q: Which expenses are associated with the risk of disability?

A: Disability refers to being abnormal from others i.e the person is incapable in a or few aspects from…