For automobile insurance, Describe how risk can be managed. Evaluate the risks in society. Discuss the relationship between risk and this type of insurance. Describe the risk management tools. Discuss the legal principles of risk and this type of insurance.

Q: What are insurance funds and what are examples of insurance funds?

A: The Insurance Fund is a common fund on Bybit that goes about as the first line of defense against…

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: How tools are used in insurance risk management

A: Risk Management Techniques  Techniques for coping with dangers are known as risk management…

Q: Briefly explain the difference between an insurance and an assurancepolicy?

A: Insurance policy and Assurance policy are two different policies.  Insurance policy provides…

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: What is the role of Insurance company?

A: Answer no 3. Insurance companies are a part of financial system and considered as a safeguard the…

Q: INSURANCE

A: Competence Competent parties square measure parties UN agency square measure themselves de jure…

Q: What is life insurance company?

A: Life insurance: Life insurance is an agreement among an insurance corporation (insurer) and an…

Q: ain ONE key financial risk that an insurance company is exposed to. Explain the policies and…

A: Basic Concept of Insurance Financial risk in insurance and Mitigation

Q: in insurance terminologies this means that a life insurance policy has been paid and active?

A: In insurance terminology premium means that a life insurance policy has been paid and active.

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: risk" factor

A: Risk is a term that shows the possibility of injury or loss to the health, business, vehicle, etc.…

Q: Describe how the insurance company's solvency and management status are evaluated.

A: The term insurance company is used to describe a company that writes insurance policies, pays…

Q: Which of the following is a type of captive formed to write most types of liability insurance…

A: A captive insurance firm is a special arrangement for insurance, which is a subsidiary insurer to…

Q: What is the relationship between risk management and insurance buying and why do some argue that…

A: The question is based on the concept of risk management and the use of insurance as a tool of risk…

Q: Briefly explain the factors that are considered in determining the premium for automobile liability…

A: Premium on insurance is an amount paid to the insurance company for purchasing the insurance policy.

Q: How do insurance companies determine how much you should pay for your insurance coverage?

A: The amount of money paid for an insurance policy is termed as insurance premium. The premium is paid…

Q: Discuss using practical example how risk management objectives fascilitates an insurer’s role as a…

A: Risk management refers to identifying, analyzing, and reducing the risk by applying different…

Q: ce risk management tools?

A: Risk Management Techniques  Techniques for coping with dangers are known as risk management…

Q: insurance is relevant to the public an

A: Insurance is an agreement between two parties in which the insurer should pay money against which…

Q: Discuss how benefits of insurance has sustained the insurance industry to date

A: Insurance is an arrangement under which a person or agency receives financial security or…

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: How insurance companies works?

A: Insurance companies are the type of organizations that were established in order to cover the…

Q: what is one example of a risk management strategy used by insurance companies to mitigate…

A: An underwriter's potential loss is known as underwriting risk. Underwriting risk in insurance can…

Q: Insuring clause in an Accident & Health policy states which of the following information? A. The…

A: There are different clause in the insurance policy that what is covered and what is not covered and…

Q: Name a peril that is often excluded from an home or auto insurance policy.  Why is the peril…

A: Peril means an event causing fire or theft or damage to assets like home, auto mobiles etc Peril…

Q: tell me why the use of reinsurance contributes to the solvency of the ceding insurer.

A: By ceding a portion of their risk, ceding companies reduce their overall risk exposure and…

Q: How does the Insurance Commission assures the investing public on the safety of the Insurance…

A: As per US laws, insurance commission is formed in the states to protect the interest of the public.…

Q: How does insurance commission assures the investing public on the safety of the insurance products…

A: Insurance Commission is an amount paid to the broker or agent of insurance products for selling the…

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: The Director of Insurance has the power to. make reasonable insurance rules and regulations…

A: Insurance means a contract between two parties in which one party bears the risk of the other party…

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: what is the role of the Insurance Core Principles as it relates to underwriting risks, in the…

A: It is very important to evaluate and regulate the insurance supervision. There will be flaws in the…