Question

Could someone please help me answer these?

Certain types of property are not cov of property are not covered under the CP form because covering such may add complications to the calculation of coinsurance in the event of a partial loss. (a) True (b) False 33. Each of the following is a reason for exclusions found in the ISO CP policy contract except (a) loss exposure is covered elsewhere. (b) loss exposure is not insurable for all practical purposes, (c) loss exposure is too costly for private insurers to cover. loss exposure represents an activity the insurance company president does not like. 34 CP underwriters make decisions on the coverage to be provided for an insured and the appropriate amount of premium to charge for the exposures. One method of rating which averages the rates for groups of loss exposures which are very similar is the (a) specific rates approach. (b) class rating approach. best guess approach (d) trial and error approach.

Answer 1

32. b) False

33. d) loss exposure represents an activity the insurance company president does not like.

34. b) class rating approach.