Total loss of cargo is governed by a ________ in a maritime insurance policy. Himalaya Clause...
Total loss of cargo is governed by a ________ in a maritime insurance policy.
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Himalaya Clause |
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loss payee clause |
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constructive loss clause |
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loss payable clause |
Homework Answers
Constructive loss cause
Total loss will occur when the cost of recovering and repairing the insured vessel would exceed the agreed value or when the insured cargo is reasonably abandoned based on the expectation that it wil become an actual loss as well.
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Total loss of cargo is governed by a ________ in a maritime
insurance policy.
Himalaya Clause...
A property insurance policy is written with a 90 percent coinsurance clause and a policy limit...
A property insurance policy is written with a 90 percent coinsurance clause and a policy limit of $60,000. The actual replacement cost of the structure, less depreciation, is found to be $100,000. What amount may be collected under this policy if a total loss occurs? 0 A $60,0000 0 B $66,666 0 C $100,000 o D None of the above T7 Fullscree
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An insurance policy pays for a random loss X subject to a deductible of 550. The...
An insurance policy pays for a random loss X subject to a deductible of 550. The loss amount is modeled as a continuous random variable with density function 4500 for x > 500 f(x) = { otherwise Determine the expected payment made under this insurance policy.
The loss L due to a boat accident is exponentially distributed. Boat insurance policy A covers...
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A property insurance policy is written with a 90 percent coinsurance clause and a policy limit of $60,000. The actual replacement cost of the structure, less depreciation, is found to be $100,000. What amount may be collected under this policy if a total loss occurs? 0 A $60,0000 0 B $66,666 0 C $100,000 o D None of the above T7 Fullscree
An insurance policy pays for a random loss X subject to a deductible of 550. The loss amount is modeled as a continuous random variable with density function 4500 for x > 500 f(x) = { otherwise Determine the expected payment made under this insurance policy.
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