Marine Insurance Rights and Liabilities
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Questions and Answers

Under what policy can the insured abandon property to the insurers and claim a total loss?

  • Life Insurance Policy
  • Health Policy
  • Fire Policy
  • Marine Policy (correct)

    • What happens if the insured does not cooperate according to the condition?

  • The insured is given additional time to cooperate
  • The insured's benefits under the policy are forfeited (correct)
  • The insured's liability for loss is admitted
  • The insured is forgiven for non-cooperation

    • What is the purpose of enabling loss assessors to enter the premises?

  • To minimize the damage
  • To establish the cause and extent of loss (correct)
  • To protect salvage
  • All of the above

    • When are the rights conferred by the condition exercisable by the company?

    <p>At any time until a notice in writing is given by the insured that he makes no claim</p> Signup and view all the answers

    Why is the right of abandonment denied under a fire policy?

    <p>To avoid causing problems for insurers</p> Signup and view all the answers

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