insurance Flashcards
0
Q
what are the rules regarding payment by the carrier
A
1
Q
what is insurance?
A
a plan of security against risks by charging the loss against a fund created by the payments made by policyholders ( legalized gambling)
2
Q
what are the rules regarding contract language?
A
if the contract is not written in plain language or ambiguous, its interpreted against the insurer.
3
Q
insurable interest
A
when claim occured
