New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    Commercial coverage against losses resulting from the

    failure of business debtors to pay their obligation to the insured, usually due to insolvency is termed as?
    A Credit Insurance Correct Answer Incorrect Answer
    B Contingent Liability Correct Answer Incorrect Answer
    C Contractual Liability Correct Answer Incorrect Answer
    D Convertible Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    Credit insurance is an insurance policy that pays off an outstanding debt in the event of the policy holder's death, disability, or termination of employment

    Practice Next