A loss has occurred before the first report has been filed on a value reporting coverage form. Which is NOT true?

Insurance

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A loss has occurred before the first report has been filed on a value reporting coverage form. Which is NOT true?

Full amount of loss up to the policy limit is paid if the loss occurs before the first report due date.

75% of the loss is paid if the loss occurred after the first report due date.

Never more than 75% of the loss is paid.

Provisional premium is based on 75% of the full amount of coverage.

Answer: Never more than 75% of the loss is paid

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