Question
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?Solution
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 Advertisement of a Prospectus of a company shall specify therein the _____________
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In Islamic divorce law, what is the process of khula?
In which of the following cases can courts intervene in an arbitral proceeding?
Which section of the Companies Act lays down provisions relating to document containing offer of securities for sale to be deemed prospectus?
OASIS with reference to PFRDA Act stands for_____________
An act done by a person bound by law or by mistake of fact believing himself bound by law is:
In the absence of any provision by contract between the partners for the duration or determination of their partnership, what type of partnership is it?
A relevant confession becomes irrelevant when
As laid down under the Insurance Act the duration of the Executive Committee of the Life Insurance Council or the General Insurance Council is _________...
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