What method of decision making for a consumer

Insurance policies often contain a covenant of good faith and fair dealing. Even if the clause is not in the policy, often court

Oxana [17]

Answer:

The covenant of good faith and fair dealing simply requires all the parties to a contract to deal in an even-handed manner such that one party's action does not frustrate the other or prevent the other from getting the benefits of that contract.

In insurance, this covenant is sometimes captured under the heading Uberrima fides. This is a Latin phrase meaning "Utmost Good Faith".

In insurance, this covenant is legally binding on all parties to ensure they each reveal every information that is material to the acceptance or rejection of the risk (on the part of the Insurer) whilst on the part of the Insured the insurer is required to be explicit regarding the terms of the policy as well as the calculations by which the premium is arrived at.

For example, if an Insurance company is looking at covering someone under it's Life Insurance Policy, the person taking out the contract must disclose whether or not the Insured has any latent health issues which might shorten their lifespan. If there is such a condition, the Insurance company may still take on the risk albeit at a relatively higher rate than a client without such medical conditions.

An Insurance Company may breach this covenant if they delay or refuse to reasonable settle claims due to the Insured. It may also arise if the Insurance company by some technical manipulation intentionally under settles an Insurance claim.

If for instance, a Comprehensive Insurance Policy files a valid claim, the Insurer may be liable for negligence and or intentional wrongdoing.

Cheers!

6 0

3 years ago

All groups are teams. b. Groups are teams with a high level of task interdependence. c. Unlike teams, groups are associated with

Yuri [45]

Answer:

The correct answer is d. Some groups are just people assembled together in the same physical area.

Explanation:

There may be times when there is a very large group of people who concentrate because they coincide in a place and time, which does not mean that they necessarily share the same ideals. It is enough with a confirmation question to realize what it is that they are gathered.

In the workplace, people may be concentrated because they need to hear a message transmitted by an organization official, who may or may not be their immediate boss.

4 0

3 years ago

A bond with a face value of $ 100,000 has a coupon rate of 8 percent. The bond matures in 10 years. When the bond is issued, the

kolbaska11 [484]

$ 87,707 is the amount will investors pay for this bond.

= 8,000 (PVIFA 10%,10) + 100,000 (PVIF 10%, 10)

= (8,000 × 6.145) + (100,000 × 0.386)

= 87,707

Bonds can make contributions an element of balance to nearly any unique portfolio – they may be a stable and conservative investment. They provide a predictable glide of income while shares carry out poorly, and they may be a top-notch financial savings vehicle in case you do not need to position your coins on the chance.

A bond earns interest month-to-month from the primary day of the month to the hassle date. The interest accrues (is introduced to the bond) till the bond reaches 30 years otherwise you coin the bond, whichever comes first. The interest is compounded semiannually.

Learn more about bond here: brainly.com/question/25965295

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3 0

1 year ago

Please help, Worth 90 Points!!

Harman [31]

Answer:

free points ezzzzz

Explanation:

3 0

3 years ago

During the next four months, a customer requires, respectively, 600, 800, 1,200, and 900 units of a commodity, and no backloggin

Hoochie [10]

Answer:

Minimal Net cost: $ 335,000

Explanation:

In order to minimize net costs, the first step is to obtain the unitary cost including all the concepts: production + storage

The period with lower production cost is Month 1 ( $ 80 ) , and after adding storage cost ( $ 20 ) it sums $ 100.

The second Month is the next convenient one in terms of production costs ( $ 100 ).

However, is not convenient to produce the whole demand in this periods because the extra stock remaining will increase storage expenses, specially considering that storage cost is accumulative ( $ 20 per unit per each end of month).

Remaining inventory after Month 4: not efficient, as $ 60 does not cover production cost.

Therefore, the best option is:

Month 1 : to produce from 600 up to 1,400 units

Month 2 : to produce from 0 up to 800 units, according to Month 1 production ( formula= 1,400 less Month 1 production)

Month 3 : 1,200 units

Month 3 : 900 units.

Net cost: $ 335,000

*Optionally, it is correct producing 600 u in Month 1, and 800 u in Month 2: the result is the same ( Month: 1 $ 80 + $ 20 = Month 2: $ 100 )

8 0

4 years ago