Question
According to the Executive Committee of the General
Insurance Council, what is the minimum amount of unexpired risk reserve required for Marine Insurance?Solution
According to the Executive Committee of the General Insurance Council, for Marine Insurance, the minimum amount of unexpired risk reserve that must be maintained is 100% of the premium. This means that insurance companies must set aside an amount equal to the entire premium received for marine insurance policies to cover potential future claims and liabilities.
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The ISO/IEC 27001 Standard is for
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