Answer:
The <em>covenant of good faith and fair dealing</em> 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 <em>Uberrima fides</em>. This is a Latin phrase meaning <em>"Utmost Good Faith".</em>
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.
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Answer: C. It is an important basis for effective communication
Explanation:
Credibility is the quality of being able to be trusted. Can people trust the things you say or promise. That is credibility. It is very important in communication because for one to get their ideas across, the people being communicated to must trust and believe what you are saying. For communication to work, utterances must be able to have an impact and if the person communicating does not have credibility, chances are that the people listening will simply ignore what the communicator is saying simply because they don't believe it to be true.
Answer: (B) False
Explanation: Creating an improvement in profit and better efficiency are the strategies for the company's operational plan. If we talk about Corporate Social Responsibility, these are the actions aimed at reducing the social and environmental impacts caused by the company, to obtain the best results over time in terms of competitiveness and sustainability.
Example: The company can improve efficiency by using chemicals harmful to the environment, which is an operational strategy. If this action is changed to chemicals of organic origin, then if a social responsibility policy is complied with.
Answer:
the expansion of core new deal programs.
Eisenhower signed legislation that expanded Social Security, increased the minimum wage, and created the Department of Health, Education and Welfare. He also supported government construction of low-income housing but favored more limited spending than had Truman.
Initial asset is $28,158.
Final asset is $21,407.
The difference is
Since this is a span of 8 years, $6,750 is divided by 8.
On average, the asset increases by $843.75.
