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Filing FIRM 125335391 Arkansas Insurance Department State of Form

Filing FIRM 125335391 Arkansas Insurance Department State of Form

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question One Insurance principles and Concepts Which principle ensures that the insured is restored to the same financial position after loss without allowing for profit from the insurance claim a subreg b insurable interest C Indemnity D utmost good faith correct answer C Indemnity explanation the principle of Indemnity is fundamental in Insurance a seeming to make the insured hold again I to restore them to the same financial position they were in before the loss occurred this principle prevents the insured from profiting from an insurance claim subreg allows insurers to pursue a third party that caused an insurance loss insurable interest B requires the insured to have a stake in the insured item or person an utmost good faith d means all parties must act honestly and disclose all relevant information question two scenario based question homeowners insurance Mr Thompson's home in Little Rock Arkansas is insured under an ha three policy During a severe storm a tree falls and

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