hw2 - Barsha Shrestha HW: 2 : Application Question:...

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Barsha Shrestha HW: 2 : Application Question: Chapters 6: Q4. Even though Richard owns and operates adjustment bureaus which adjust property insurance claims in his area. His company also adjusts claims for homeowners in the same area and he is paid a fee for each claim that he adjusts and settles. For this reason I think he best suits as an independent adjustor. Chapter 8: Q2. a. Based on the above facts, agent is engaged in twisting and rebating. b. Agent can be fined, an injunction can be obtained or in some case he can be suspended or revoked. c. The insurer may be rehabilitated, if rehabilitation is not feasible. The insurer may be involuntarily liquidated. Chapter 9: Q5. Megan will collect $12,000 for the loss, because the antique was insured for 12,000 under a valued policy. Even though the table got destroyed after tornado and the market value of the table was only 10,000. Since, Megan insured the table under value policy, the policy will pay the face amount of insurance even after total loss occurs. Chapter 10:
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hw2 - Barsha Shrestha HW: 2 : Application Question:...

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