Generally, which of these ultimately pays the insurance premium on a commercial property owners policy?
A: The owner
B: The tenant
C: The managing agent
D: The owner and the managing agent
B. Market practice is for commercial property owners to charge the insurance premium out to their tenants, compared with residential property leases where usually the property owner will stand the cost of the insurance premium.
After an agency relationship ends, what is the correct treatment of information that was confidential during the life of the agency?
A: The information is only confidential while the agency is operational B: The information must remain confidential, even after the agency has ended
Which of these methods explains how a periodic payment for a personal injury claim is typically funded?
C: The income may be funded directly from an insurer's reserves or by the purchase of an annuity.
B: Insurers apply premium rates to groups of customers, taking no account of their personal details or generally the extent to which they engage in dangerous activities.