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Your insured holds a property insurance policy and dies. Shortly afterwards, a fire damages the insured premises. Which one (1) of the following statements is true? OA) The insurer does not have to pay because there is no insured to make a claim. OB) The insurer is liable for loss occurring after change of title by succession. OC) The policy is void upon the death of the insured. OD) The insurer will not pay because the policy has not been transferred to his/her beneficiary.

Your insured holds a property insurance policy and dies. Shortly afterwards, a fire damages the insured premises. Which one (1) of the following statements is true? OA) The insurer does not have to pay because there is no insured to make a claim. OB) The insurer is liable for loss occurring after change of title by succession. OC) The policy is void upon the death of the insured. OD) The insurer will not pay because the policy has not been transferred to his/her beneficiary.

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Your insured holds a property insurance policy and dies. Shortly afterwards, a fire damages the insured premises. Which one (1) of the following statements is true? OA) The insurer does not have to pay because there is no insured to make a claim. OB) The insurer is liable for loss occurring after change of title by succession. OC) The policy is void upon the death of the insured. OD) The insurer will not pay because the policy has not been transferred to his/her beneficiary.
Transcribed Image Text:Your insured holds a property insurance policy and dies. Shortly afterwards, a fire damages the insured premises. Which one (1) of the following statements is true? OA) The insurer does not have to pay because there is no insured to make a claim. OB) The insurer is liable for loss occurring after change of title by succession. OC) The policy is void upon the death of the insured. OD) The insurer will not pay because the policy has not been transferred to his/her beneficiary.
What is the purpose of a contract between an insurer and an insurance broker (company/broker agreement)? OA) To satisfy the requirements of the Department of Insurance. OB) To formalize in writing the authority of the broker and the responsibilities of each party. OC) To authorize the broker to operate a Trust Account. OD) To meet the requirements of RIBO.
Transcribed Image Text:What is the purpose of a contract between an insurer and an insurance broker (company/broker agreement)? OA) To satisfy the requirements of the Department of Insurance. OB) To formalize in writing the authority of the broker and the responsibilities of each party. OC) To authorize the broker to operate a Trust Account. OD) To meet the requirements of RIBO.
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