Insurer Provisions (UT)

Annie was in a car accident in which the other driver, Lenny, was deemed to be at fault. Annie’s insurance company indemnified Annie and then sued Lenny to recover the amount it paid Annie. This is an example of

Grant’s auto insurance policy has a bodily injury per person limit of $100,000. Grant was negligent for a car crash injuring Stewart. Stewart sued Grant and the case was settled in court with Grant being ordered to pay Stewart $120,000 for his medical bills. Grant’s insurer incurred $25,000 in settlement fees for defending the case. What was the total amount that Grant’s insurer was obligated to pay for everything related to this car accident?

Regarding subrogation, once an insured has been indemnified, the insured

Suppose a new state regulation requires all homeowner policies to include coverage for earthquake, effective immediately. Insurers must provide this coverage to their existing insureds without raising active policy premiums. This is an example of

The amount of money an insurer receives by selling damaged property is called

The insurer’s legal right to indemnify the insured for a property loss using the method that is least costly to the insurer is described under the

Which of the following is NOT true about the duty to defend?