A risk considered as sub standard in future can be dealt with by insurers through
(i) premium loading (ii) double insurance (iii) excess imposition
(i) premium loading (ii) double insurance (iii) excess imposition
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
Correct Answer: Option B
Explanation:
premium loading; The amount an insurer needs to cover its expenses and generate profit.
Excess imposition - Your insurer may impose a non-standard excess, because of the number of claims you have had, or other factors which may mean you are more likely to make a claim.
premium loading; The amount an insurer needs to cover its expenses and generate profit.
Excess imposition - Your insurer may impose a non-standard excess, because of the number of claims you have had, or other factors which may mean you are more likely to make a claim.