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When completing a "Proof of Loss" form following a claim, the insured is required to inventory not only the damaged property but, if required, the undamaged property as well. What is the reason for this? OA) It prevents the insured from exaggerating the value of the property damaged or destroyed. OB) It permits the insurer to determine the proportion of the total value represented by the damaged property. OC) It prevents the insured from becoming a co-insurer. OD) It is required to provide statistics as to the number of total losses versus partial losses.

When completing a "Proof of Loss" form following a claim, the insured is required to inventory not only the damaged property but, if required, the undamaged property as well. What is the reason for this? OA) It prevents the insured from exaggerating the value of the property damaged or destroyed. OB) It permits the insurer to determine the proportion of the total value represented by the damaged property. OC) It prevents the insured from becoming a co-insurer. OD) It is required to provide statistics as to the number of total losses versus partial losses.

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When completing a "Proof of Loss" form following a claim, the insured is required to inventory not only the damaged property but, if required, the undamaged property as well. What is the reason for this? O A) It prevents the insured from exaggerating the value of the property damaged or destroyed. OB) It permits the insurer to determine the proportion of the total value represented by the damaged property. OC) It prevents the insured from becoming a co-insurer. OD) It is required to provide statistics as to the number of total losses versus partial losses.
Transcribed Image Text:When completing a "Proof of Loss" form following a claim, the insured is required to inventory not only the damaged property but, if required, the undamaged property as well. What is the reason for this? O A) It prevents the insured from exaggerating the value of the property damaged or destroyed. OB) It permits the insurer to determine the proportion of the total value represented by the damaged property. OC) It prevents the insured from becoming a co-insurer. OD) It is required to provide statistics as to the number of total losses versus partial losses.
Which one (1) of the following statements best describes the coverage provided under a "Consequential Loss Assumption Clause" in a property policy? OA) The consumption of food off the premises. OB) The right of an insurer to apply a deductible as a consequence of a loss. OC) Damage to frozen goods indirectly caused by a change in temperature resulting from an insured peril. OD) A loss occurring as a direct consequence of careless driving.
Transcribed Image Text:Which one (1) of the following statements best describes the coverage provided under a "Consequential Loss Assumption Clause" in a property policy? OA) The consumption of food off the premises. OB) The right of an insurer to apply a deductible as a consequence of a loss. OC) Damage to frozen goods indirectly caused by a change in temperature resulting from an insured peril. OD) A loss occurring as a direct consequence of careless driving.
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