The _______ says that if an insurance company is willing to over-insure and there is a total loss, the company has to replace the entire loss.
Louisiana Valued Policy Law
Which of the following are TRUE of temporary contracts of insurance called binders? a. They guarantee that a policy will be issued.
b. They do NOT need to be cancelled.
c. They may be oral or written.
d. All of the above
C. They may be oral or written.
The ______________ is designed to prevent the over-insuring of property.
Valued Policy Law
Insurance companies have ____ days to pay insureds after receiving proof of loss.