Any real estate which is owned by and more than 50 percent occupied (based on rentable square footage) by an insurer and its' affiliates is considered property occupied by the company.

The correct answer is A. True. Option A is correct because insurance regulations define "property occupied by the company" as real estate that is both owned by the insurer (or its affiliates) and more than 50% occupied by those same entities - meaning the majority of the rentable square footage must be used…

Question

Any real estate which is owned by and more than 50 percent occupied (based on rentable square footage) by an insurer and its’ affiliates is considered property occupied by the company.

Options

ATrue
BFalse

How the community answered

(21 responses)

A
71% (15)
B
29% (6)

Explanation

Option A is correct because insurance regulations define "property occupied by the company" as real estate that is both owned by the insurer (or its affiliates) and more than 50% occupied by those same entities - meaning the majority of the rentable square footage must be used by the insurer/affiliates themselves rather than leased out to third parties.

Option B is incorrect because there is no ambiguity or exception here - the 50% threshold is a clear, codified rule, not a judgment call, so "False" has no basis under the standard definition.

Memory tip: Think of the "50% rule" like a majority vote - if the insurer and its affiliates occupy the majority of the building they own, it counts as company-occupied property. Own it + majority-occupy it = company property.

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