πŸ“’ Too many exams? Don’t know which one suits you best? Book Your Free Expert πŸ‘‰ call Now!

  • google app store apple app store
  • βœ–

      Question

      What is the purpose of "co-insurance" in an insurance

      policy?
      A To share the cost of losses of the insured by more than one insurer Correct Answer Incorrect Answer
      B To insure multiple properties under a single policy Correct Answer Incorrect Answer
      C To provide coverage for losses due to co-insurance Correct Answer Incorrect Answer
      D To insure multiple individuals under a single policy Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      Co-insurance refers to a situation where two or more insurers share the risk of insuring a particular policyholder or property. In this arrangement, each insurer agrees to cover a specified percentage of the risk, and they share the premium and claims.Β 

      Practice Next
      ask-question