Question
Which of the following principles of Insurance enables
the insured to claim the amount from the third party responsible for the loss?Solution
This principle is the right for an insurance company to legally approach a third-party for causing insurance losses to the policyholder. This is done when the insurer pays for the loss to the insured, and then pursues recovery of that amount
What are moral hazards in underwriting?
Under which type of plans, an insurance that provides coverage at a fixed rate of payments for a limited period of time is called?Â
Selling insurance through groups is called?
_______ is basically a trade in which imported goods are re-exported with or without any additional processing or repackaging.
An independent professional person registered under the Insurance Act who represents the insurance buyer to purchase the insurers policy is known as?
Reinsurance placed with a company not authorized in the reporting company’s state of domicile is called?
Life Insurance Corporation of India provides its policy holders the facility to deposit premium at which of the following intervals?
Which country is the first in the world to introduce the concept of Insurance Repository services?
Which among the following is the oldest existing insurance company in India?
The practice of buying or selling of a security by someone who has access to material nonpublic information about the security, is termed as?
