Ann Parks and Robert Evans jointly own a grocery store.Ann and Robert are both named insureds on the property insurance covering the store,but Ann is the first named insured.Which of the following statements is true with regard to Ann's status as the first named insured?
A)Any loss settlement is paid to Ann only.
B)Ann is responsible for making sure that the premium has been paid.
C)Ann can assign the policy without the consent of the insurer.
D)Ann can waive policy conditions.

Question

Quizplus · Accepted Answer

As the first named insured, Ann is primarily responsible for ensuring that the premium is paid. However, it does not necessarily mean that any loss settlement is paid to her only, that she can assign the policy without the insurer's consent, or that she can waive policy conditions. Those are not necessarily implications of being the first named insured.

Ann Parks and Robert Evans Jointly Own a Grocery Store