In insurance accounting, what do insurance companies set aside to account for potential claims that may arise after the closing date but within the policy term?
In most cases policies are renewed annually except in some cases where policies are issued for a shorter period. Since insurers close their accounts on a particular date, not all policies expire on that date. Many policies extend into the following year based on the date on which they were taken and as such the risk continues beyond the date of closing of books of the insurer. Therefore on the closing date, there is unexpired liability under various policies which may occur during the remaining term of the policy beyond the financial year and therefore, a provision for unexpired risks is made.
The climb to the top is not for the ill-hearts , but if you manage to negotiate the 463 narrow steps from the inside, you will be grated by extraordin...
As I got closer , I realize that the metal cage was in fact a small trap .
...We are on talks with several Indian companies for setting up a joint venture to provide the full range of post-guarantee maintenance and repair servic...
Forest land is now only 26 per cent of the total land area in Asia and the Pacific pull together .
Select the most appropriate option to substitute the underlined segment in the given sentence. If there is no need to substitute it, select ‘No substi...
I. Back in my salad days my friends and me used to go dancing every Saturday night.
II. It is best to give than to receive anything from anyon...
The following question contains three statements, one or more of which may not be grammatically correct. You are required to identify the incorrect sta...
At a meeting of State Education Ministers here, a majority off the States supported a common entrance test that would save the students from writing m...
Select the correct direct form of the given sentence.
The teacher commanded the students not to shout.
For the purposes of the survey, only (a)/ the margin of error may be substantial(b)/3% of rural households were surveyed by the agencyfor (c)/it is imp...