Property and Casulty
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Which of the following is another term for an authorized insurer
Admitted
An individuals tendency to be dishonest would be indicative of a
Moral hazard
On a participating insurance policy issued by a mutual insurance company, dividends paid to policyholders are
Not taxable since the IRS treats them as a return of the premium paid
Which of the following is NOT a characteristic of an insurable risk?
The loss must be catastrophic
In insurance policies, contract ambiguities are automatically ruled in the favor of the insured. What privilege does the insurer have in order to balance this?
The right to determine the wording of a policy