Question
A section of the risk-based capital formula calculating
requirements for reserves and premiums is termed as?Solution
Underwriting risk is the risk of loss borne by an underwriter. In insurance, underwriting risk may arise from an inaccurate assessment of the risks associated with writing an insurance policy or from uncontrollable factors.
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?
