If Jake issued flood insurance on real estate situated in flood areas, an ideal insurable risk may have been violated as the loss should not be catastrophic.
Flood insurance provides coverage for losses caused directly by flooding. Any buildup of water on typically dry terrain that impacts at least two acres of land or two or more properties is known as a flood.
For instance, the harm caused by a sewage backlog that resulted directly from flooding would be paid.
Thus, If Jake issued flood insurance on real estate situated in flood areas.
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