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4 Cards in this Set
- Front
- Back
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If the insured stops paying premiums for his policy what happens
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insurer is released from its promise to provide coverage.
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reciprocal insurer
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pay a pro rata share of any loss suffered by other members
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moral hazards
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individual traits or habits that increase chance of a loss
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difference between a representation and a warranty
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Warranty is guaranteed to be true
Representation is not guaranteed to be true but believed to be true (does not become part of the contract) |
