Under the same situation, a "pay on behalf" policy, the insurance carrier would pay the claim and the insured (the homeowner) would not be out Click Here of pocket anything. Most modern liability insurance is written on the basis of "pay on behalf" language.
|
Insurance companies also earn investment profits on â∠Âfloatââˆ|
|---|
| Insurers inception investing support premiums as pronto as they are collected and continue to earn interest on them until claims are paid out. |
