Contribución a Partes Iguales

After Leo’s primary insurance policy reached its limit of insurance, another policy paid the remainder of his accident costs. What is the name for the second insurance policy?

Four months after Harold purchased an Auto insurance policy, he did not pay the monthly premium, and the insurer terminated the policy. This is best described as

Suppose there are two policies insuring the same building, and a fire causes a partial loss of $40,000 to the building. If the contribution by equal shares method is followed, each policy

Suppose there are two policies insuring the same building, and a fire destroys the building. If the pro rata method is followed, each policy

What is the policy territory for most personal auto policies?

When her homeowner’s insurance policy expired, Anna decided to switch insurance companies. This is best described as

When two or more policies cover the same risk—but not at the same time—it is called what?

Which is NOT true about a deductible?

The insured suffers a $40,000 loss that is covered by Policy A with a limit of $100,000 and Policy B with a limit of $300,000. Policy A is primary insurance. Policy B is excess insurance. How much will each policy pay for the $40,000 loss?

When two or more policies cover the same risk—at the same time—it is called what?

The policy period is also called