CHAPTer one
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Limits of Liability
what determines an insurers responsibility for payment, as stated in an insurance policy
insurance
what do individuals use to transfer their risk of loss to a larger group
Subrogation
what provision found in property policies prevents an insured from collecting twice for the same loss: once from insurer and again from a third party
Strict Liability
if a manufacturered product is unsafe, what type of liability applies to the manufacturer
to encourage insureds to insure property close to its value
in property insurance, what is the purpose if a coinsurance clause
at the time of loss
in property insurance, when must insurable interest exist?
