At what point would it be necessary to purchase a Personal Liability Umbrella policy?

Q: Define and explain the nature and concept of the current liability and non-current liability.…

A: Entity have two types of liability a short term liability and a long term liability . The difference…

Q: Briefly comment on the following questions or statements. a) Describe approaches to minimizing legal…

A: a) Legal liability refers to  a situation which is answerable or responsible in law. It covers both…

Q: What kind of insurance  forms may not be included in the comprehensive forms?

A: Insurance: Insurance is the protection against an individual or an asset for the financial losses…

Q: Describe a private insurance. what is it? Discuss the primary strengths and advantages, and…

A: Private Insurance means an insurance plan which is not operated by the government. It comes under…

Q: What are your recommendations for Insurance companies ?

A: 1.lapsation benifit to all 2. Reasonable refundable value 3. Single expense ratio

Q: Describe the Comprehensive General Liability Insurance?

A: Answer: Comprehensive general liability insurance is an old concept for general liability insurance,…

Q: What is meant by the expression, “The policyholder gets the benefit of the doubt,” in connection…

A: All insurance policies favour the insured person if there is any doubt etc benefits of doubt is…

Q: Describe how an unrelated tenant in common or joint tenant should protect him- or herself from…

A: Please find the answer to the above question below:

Q: In what circumstance would a property insurance claim be rejected?

A: An insurance claim is a written request for coverage or compensation from an insurance company for a…

Q: Borrowers should be aware of which general qualifications?

A: Borrowers should be aware of the following points while borrowing the amount: Borrowers should be…

Q: ame a personal liability that someone might have and identify whether it's a current or long-term…

A: A person or organization's personal responsibility is the amount of money owed to them. Taxes,…

Q: Which of the following is not an insurance management tool? Group of answer choices deductibles.…

A: Insurance management: Insurance Management is the administration of all insurance requirements, both…

Q: Are they any specific considerations  that must be taking into account when focusing on liability…

A: Liability: A liability is the amount of money that a company owes for the benefits enjoyed.…

Q: What is the importance of insurance companies?

A: Insurance firms are financial middlemen that provide direct insurance or reinsurance services,…

Q: explain personal security exemption as one of the most commonly-litigated exemption.

A: The answer is stated below:

Q: What levels and kinds of risks are properly and mosteconomically passed on to insurance carriers?

A: Levels of risk are: High It involves a huge amount of risks involved that are needed to be insured…

Q: Which of the following is most likely to result in the recognition of a liability? a. Customers…

A: Liability refers to an obligation of one party to pay money or any other consideration to the other…

Q: a

A: A legal state in which a person's financial obligation is limited to a specified sum, usually the…

Q: What factors must be considered in determining whether or not to record a liability for pending…

A:

Q: Discuss about the long term liability Vs short term liability?

A: SOLUTION- LIABILITY- ANY AMOUNT OR SUM A BUSINESS OR COMPANY IS OBLIGATED TO PAY TO ANY INDIVIDUAL,…

Q: How Limited liability is different to unlimited liability? Briefly explain with an example of…

A: Limited liability is the type of organization where loss to the corporation will not exceed amount…

Q: What is the amount of the current liability related to this transaction?

A: Invoice raised for the sales made by the company = 4,000 batteries * $150  + 6% sales tax =…

Q: Distinguish a contigent liability from a provision.

A: Liabilities: It refers to the debt that company owes to someone. It can be short term or long term.

Q: The standard homeowners policy contains both property and liability coverages.    True or False

A: The standard homeowners policy can be defined as the contract between insurer and the insured where,…

Q: What is Joint Liability?

A: The answer is provided as follows:

Q: explain the principles of classical immunization strategy to meet a single liability obligation

A: Immunization is referred to as a strategy to mitigate the chance that matches the duration of asset…

Q: Explain how does a liability’s fair value change?

A: Fair value is the value of liability which has to be reported in the books of the company’s…

Q: What are the differences between an insurance agent and an insurance broker? Discuss.

A: Insurance brokers are individuals that sells, buy or negotiate variety of financial products that…

Q: What will making a prepayment for insurance have the effect of?

A: The insurance paid in advance means the expense has been paid but it is not due yet.

Q: Which of the following sections of a commercial general liability policy contains information about…

A: Insurance is the process through which an individual or corporation is provided financial coverage…

Q: What are the benefits of having third-party insurance?

A: When insurance is purchased for protection against claims of other persons, the insurance is called…

Q: the present value of this liability?

A: Present Value: Present value is the real value of an asset discounted by the rate which shows the…

Q: Which of the following items is required by the Life Insurance and Annuity Replacement Rule? A. A…

A: The answer is stated below:

Q: What are the pro and cons of third-party insurance?

A: Third-party insurance is an insurance policy purchased for the protection against the claims of…

Q: Which of the following is also called a "liability waiver"? confidentiality clause noncompete…

A: An obligation or a liability is something an individual or organization owes, it usually includes…

Q: what is the role of the Insurance Core Principles as it relates to underwriting risks, in the…

A: It is very important to evaluate and regulate the insurance supervision. There will be flaws in the…

Q: Explain the Kinds of Title Insurance Policies?

A: An insurance policy that shields the insurance holder from financial loss that arises from the…