Multiple Choice
Which of the following statements about an excess insurance plan is true?
A) The insurer does not participate in a loss until it exceeds the amount the firm has decided to retain.
B) The insurer pays first up to some specified level; the insured then pays all losses exceeding the insurer's retention level.
C) Losses in excess of a specified amount are not covered.
D) The insured and insurer share equally in any loss that occurs.
Correct Answer:
Verified
Correct Answer:
Verified
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