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Frank owned a home that was destroyed by a hurricane. Both TD Bank and
Bank of America were listed as additional interests on his homeowner policy.
The insurance company will make a payment to:
A. The first mortgagee, TD Bank
B. The Insured
C. Jointly to TD Bank and Bank of America
D. All listed interests - ANSWER D. All listed interests
Insurance applies separately to each insured as if other insureds did not exist.
This is defined as:
A. Severability
B. Conditional
C. Warranty
D. None of the above - ANSWER A. Severability
Property insurance policies usually contain a(n) clause, stating
the insured cannot dump damaged property on the insurer and demand
its full value:
A. Pro Rata
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