Question
Once an insurance company has paid up to the limit, it
will pay no more during that year is known as?Solution
The aggregate limit is the maximum amount an insurer will pay for covered losses during a policy period. The annual aggregate limit is the total amount an insurer will pay in a given single year.
A policy that covers the cost of repairing or replacing damaged electronic equipment is:
A person who makes an insurance claim is called?
The largest general insurance company in the world by revenue is:Â
The insurance companies collect a fixed amount from its customers at a fixed interval of time. What is it called?
What is a quota share treaty?
A policy that covers the cost of repairing or replacing damaged machinery is:
What does the preamble of an insurance policy NOT typically include?
Coverage for bodily injury and property damage incurred through ownership or operation of a vehicle is called?
A type of insurance often used for high frequency low severity risks where risk is not transferred to an insurance company but retained and accounted f...
The Life Insurance Business is defined in which section of the Insurance Act, 1938?
