Which of the following statements about mutual insurers is true?
A) They are legally organized as partnerships.
B) They have a board of directors which is selected by state insurance departments.
C) They are owned by their stockholders.
D) They may pay dividends to their policyholders.
Answer: D
You might also like to view...
The costs associated with reduced inventory results in lower profits.
Answer the following statement true (T) or false (F)
Under the rule of caveat emptor, the producer of a defective product that caused injury to a consumer was:
a. not liable in either tort law or contract law b. liable in tort law to any injured consumer if negligence by the producer could be shown c. liable in tort law to consumers who bought the good under the rule of strict liability d. liable in contract to all consumers who used the product under the rule of res ipsa loquitur e. none of the other choices
Partners in a partnership owe each other:
a. direct interest responsibility b. a duty to contribute direct assets c. a fiduciary duty d. a duty of ordinary care e. none of the other choices
Future business professionals need to be able to access, evaluate, and apply emerging information technology to business
Indicate whether the statement is true or false