Question

What is the insured's duty in the event of a loss?

a.

To conceal any information about the loss

b.

To act as if uninsured and take measures to minimize the loss

c.

To immediately file a lawsuit against the insurer

d.

To maximize the loss to receive a higher claim amount

Posted under IC38 Life Insurance Agent Exam

Answer: (b).To act as if uninsured and take measures to minimize the loss Explanation:In the event of a loss, the insured is expected to act as if he is uninsured and has a duty to take measures to minimize the loss.

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Q. What is the insured's duty in the event of a loss?
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