Risk Management 4

Written Responses:

• Unless otherwise indicated, there is a 250 word minimum response required.
• Credible reference materials, including your course textbook(s), may be used to complete the assessment. 
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Please do not copy and paste from interet also must list question and asnwer together.

1. The insured’s duties after a loss are usually extensive. Please describe some of the duties of the insured after a loss occurs. What can happen if the insured fails to perform these duties? Explain your answer.

 

2. In insurance terminology, a warranty is a promise something has happened or exists (affirmative warranty) or something will happen (promissory warranty). Give two examples of promissory and affirmative warranties. What difference does it make to an insured if a false statement made by the insured is considered a warranty or a representation?