Placing the insured in the same position financially as he or she or it was in immediately before the loss or damage took place. For this purpose, the insurance companies are:a.Paying compensation to the insuredb.Paying commission to the insuredc.Paying salaries to employeesd.Paying commission to the agents

The insurance companies are the form of financial institutions who provide coverage amount to the…

Answered: Placing the insured in the same…

Placing the insured in the same position financially as he or she or it was in immediately before the loss or damage took place. For this purpose, the insurance companies are: a.

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter10: Protecting Your Property

Section: Chapter Questions

Problem 1LO

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Question

Placing the insured in the same position financially as he or she or it was in immediately before the loss or damage took place. For this purpose, the insurance companies are:

Paying compensation to the insured

Paying commission to the insured

Paying salaries to employees

Paying commission to the agents

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