Insurance Past Questions and Answers

full return of premium paid for a contract of insurance is applicable in a situation involving?

A risk considered as sub standard in future can be dealt with by insurers through
(i) premium loading (ii) double insurance (iii) excess imposition

one of the steps taken by an insurer in claim settlement is to?

Eke bought a new car for N1.5M. The practice in the insurance idustry is to pay 10% of the value of the vehicle as premium for comprehensive cover and 2.5% additional cover for strike, riot and civil commotion. Eke was issued a document and two weeks later, he was issued another document different from the first document issued


What is the premium payable for the comprehensive cover

Eke bought a new car for N1.5M. The practice in the insurance idustry is to pay 10% of the value of the vehicle as premium for comprehensive cover and 2.5% additional cover for strike, riot and civil commotion. Eke was issued a document and two weeks later, he was issued another document different from the first document issued


The document issued to Eke within one week of the contract is