What kind of insurance forms may not be included in the comprehensive forms?
Q: Is disaster insurance unfair to insurance companies ? Explain your answer and provide an example.
A: Disaster Insurance The meaning of disaster insurance is is different from the life insurance which…
Q: It pertains to a risk management technique when acquiring a life insurance. * risk avoidance risk…
A: One of the risk management technique is Risk Transfer where one party transfer the risk to another.…
Q: What is meant by the expression, “The policyholder gets the benefit of the doubt,” in connection…
A: All insurance policies favour the insured person if there is any doubt etc benefits of doubt is…
Q: Differentiate between “Compensatory contract” and “Non-Compensatory contract”. Does the concept of…
A: “Since you have asked multiple questions, we will solve the one question for you. If you want any…
Q: Choose the best answer. 1.Which statement is TRUE about an insurance contract? * a.The insurer is…
A: IFRS: The full form of IFRS is international financial reporting standards. For the preparation of…
Q: True or False? 1. An insurance contract is derecognized when it is extinguished and when it is…
A: An insurance contract is a contract between the two parties where one party promises to pay the…
Q: Type of long-term care policies Triggers to become eligible for benefits Exclusions
A: Point to be Noted:- Since you have asked questions with multiple sub parts. I will be answering…
Q: Which is not an essential characteristic of an insurance contract? A. transfer of significant risk…
A: Answer is A. transfer of significant risk from the issuer to the policyholder Explanation is given…
Q: Who are the target customer of insurance companies?
A: Future events are uncertain and unavoidable, due to which risk arises. There are various methods to…
Q: Define the term prepaid insurance.
A: Prepaid expenses: Advance payment for future expenses is called as prepaid expenses. These prepaid…
Q: risk" factor
A: Risk is a term that shows the possibility of injury or loss to the health, business, vehicle, etc.…
Q: 21. What is the form that filled out by insured if a loss is suffered? *
A: Takaful is a sort of Islamic insurance in which members combine their funds to protect one another…
Q: Differentiate between the contract and concept of Takaful and Conventional Insurance
A: Insurance refers to the contract in which the insurer provides the risk protection facility to the…
Q: Deductibles are not used in which of the following type of insurance?
A: Deductibles in insurance: The deductibles is an expense the insured have to pay in before the time…
Q: ability Act (HIPAA), which of the following plans does NOT qualify as creditable coverage? rice
A: The question mentions what is included in HIPPA compliance
Q: ce risk management tools?
A: Risk Management Techniques Techniques for coping with dangers are known as risk management…
Q: Why would an insured inflate claims and who are the ones to suffer for it?
A: Insurance can be defined as the contract that is signed by an insurer indemnifies another person…
Q: Which of the following actions represents consideration in an insurance contract? a. paying the…
A: Insurance contract is a contract entered between Policyholder (Insured) and the Insurance company…
Q: An implied condition of pooling risks with insurance is that the event being insured against is…
A: Insurance: An arrangement between the two parties( Insurer & Insured) where the insurer company…
Q: Which principles ensures that an insured does not profit by insuring with multiple insurers?
A: The Principles of Contribution ensures that an insurance that an insured does not profit by insuring…
Q: What is a Current Liability? Explain its Characteristics.
A: Current liability refers to the obligation of enterprise which are due within normal cycle of…
Q: why is it important for insurance companies to manage underwriting risk?
A: in contract of insurance there is a guarantee by insurance that it will pay the damage or loss .…
Q: what underwriting risk. what are two risks faced by insurance companies?
A: The underwriting risk is the risk which is borne by the underwriter due to the inaccurate…
Q: What will making a prepayment for insurance have the effect of?
A: The insurance paid in advance means the expense has been paid but it is not due yet.
Q: Which of the following sections of a commercial general liability policy contains information about…
A: Insurance is the process through which an individual or corporation is provided financial coverage…
Q: 2) Explain why offer and acceptance is essential to the formation of a binding insurance contract?
A: An insurance contract is a legally binding agreement between the insurer and the insured. It is a…
Q: Which of the following statements about prepaid insurance is true?
A: Prepaid insurance is a current asset which is created when the insurance paid comprises of a portion…
Q: How do insurance companies calculate their premiums?
A: Insurance guarantees payment of a stated benefit after completion of a defined period. After expiry…
Q: Explain the difference between commutative contract and non-commutative contract. Why Insurance is…
A: COMMUTATIVE CONTRACT In Arabic aqd mu'awadha, it is a type of compensatory contract whereby one…
Q: 19. is the document that acknowledge the insured legally entitled to receive the payment from the…
A: Insurance is a financial mechanism that protects an insured asset from various risks. There are many…
Q: Why do we need FDIC insurance?
A: Insurance companies and agencies adopt financial strategies to manage various types of risks.…
Q: Insurance
A: Insurance is protection against unforeseen risks. It compensates for the losses suffered either by…
Q: One of the purposes that deductible are used in insurance policies is to O eliminate coverage for…
A: In insurance, deductibles are expenses that a person has to bear by him/herself before the benefits…
Q: What are the pro and cons of third-party insurance?
A: Third-party insurance is an insurance policy purchased for the protection against the claims of…
Q: Which of Ike following statements is CORRECT about he Missialement of Age provision in a health…
A: The misstatement of age clause is the provision under the life insurance policy that clears the…
Q: Explain the Kinds of Title Insurance Policies?
A: An insurance policy that shields the insurance holder from financial loss that arises from the…
What kind of insurance forms may not be included in the comprehensive forms?
Insurance:
Insurance is the protection against an individual or an asset for the financial losses incurred. It is a legal agreement between the insurer and insured. The insurance can be taken for any type of financial loss, against which the source of income of the insured is affected.
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- Which of the following sections of a commercial general liability policy contains information about limits of insurance and premiums? Declaration Exclusion ConditionWhich of the following types of insurance does NOT involve a contract with an external party? a. self insurance b. directors and officers insurance c. property insurance d. life insuranceWhat will making a prepayment for insurance have the effect of?
- Which of the following sections of a commercial general liability policy contains information about limits of insurance and premiums? Declaration Exclusion Condition Insuring agreementShould a liability be recorded for risk of loss due to lack of insurance coverage? Discuss.Describe the Comprehensive General Liability Insurance?
- Which is not an essential characteristic of an insurance contract? A. transfer of significant risk from the issuer to the policyholder B. policyholder pays the issuer for the transfer of risk C. issuer indemnifies the policyholder for losses when the insured event occurs D. none of the aboveWhich of the following items is required by the Life Insurance and Annuity Replacement Rule? A. A Notice Regarding Replacement of Life Insurance or Annuity B.A Notice Regarding Insurance Producer Compensation Schedule C.A Statement of Ethical Practices D. A Comparative Information form2) Explain why offer and acceptance is essential to the formation of a binding insurance contract?
- Which of the following is a type of captive formed to write most types of liability insurance coverage? A. Risk orientation groups B. Risk reduction groups C. Risk retention groups D. Risk avoidance groupsWhat are the pro and cons of third-party insurance?why has insurance delined as arisk fincaing technique