Purchase Solution

When the insured and the insurer disagree on whether a loss

Not what you're looking for?

Ask Custom Question

When the insured and the insurer disagree on whether a loss is covered or not, should the insured hire an attorney? Please explain.

Purchase this Solution
Solution Summary

The solution discusses when the insured and the insurer disagree on whether a loss is covered or not, should the insured hire an attorney.

Solution Preview

Absolutely, positively, yes. Many times, the insured and the insurer do not agree because the policy is the minimum absolute coverage, or is a policy that is cheap considered to the other policies. Car repair and property repair can run into the thousands of dollars, and insurance companies may try to do ...

Purchase this Solution
Free BrainMass Quizzes
Understanding Management

This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.

Business Processes

This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.

Production and cost theory

Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.

Six Sigma for Process Improvement

A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.

Social Media: Pinterest

This quiz introduces basic concepts of Pinterest social media

View More Free Quizzes
Related BrainMass Solutions

  • Liability Insurance Policy

    An insured has the following four liability insurance policies: $300,000 with insurer A, $300,000 with insurer B, $700,000 with insurer C, and $900,000 with insurer D. Each policy apportions losses using the equal shares method.

  • A risk averse agent offered actuarially fair insurance

    Suppose the total loss to the property in the event of the loss is T and the value of the property insured is q (where q<=T). The probability of loss is x.

  • Insurance Policies and Individual Consumers

    In a more layman terms, it involves the insurer, in exchange for a specified payment or premium, paying the beneficiary of the insurance contract a specified amount of money whenever the event that the insured suffers loss as a result of the occurrence

  • ethics and insurance

    In other words, the insurer cannot later avoid paying on the policy on the basis of a material misrepresentation made by the insured on the policy application.

  • Effects of stating wrong or false facts to insurer

    Any fact which the insurer will take into account when considering whether to accept the risk or not and any fact which has a bearing on the amount of premium which the insurer will charge must be considered a material fact that must be disclosed.

  • An insured patient is admitted to a hospital. Compare the ad

    442639 An insured patient is admitted to a hospital An insured patient is admitted to a hospital.

  • Policy Calculations Insurers Operate

    The distribution of losses allows the insurer to better characterize loss possibilities when compared to other approaches.

  • Health Insurance

    Agreeing to the terms of an insurance policy creates a contract between the insured and the insurer.

  • Financial and Economic Basics

    Answer 2: Commercial Insurance is a different and unique type of contract that could occur between a business owner and insurer party.

View More Related Solutions