Identify and briefly explain 3 types of insurance, citing applicable legslation and list 3 sources of advice/specialist relevant to meeting compliance requirements

Q: Explain the four legal principles associated with insurance contracts in detail, stressing the…

A: Insurance is a contract, represented by a policy, in which a person or entity receives financial…

Q: Which of the following are a type of insurance? (select all that apply) □ a. Performance Bond b.…

A: Insurance refers to a contract in the form of a policy between the insurance holders and insurance…

Q: Compare whole-life and term insurance.

A: Insurance is a legal agreement between an insurer (insurance company) and an insured person.

Q: 2. Describe "insurance premium" in your own words.

A:

Q: Briefly describe the relationships between loss / combined ratios AND underwriting, marketing and…

A: Insurance: Insurance is a policy, addressed by an arrangement, where an individual or element gets…

Q: 1. Jensen’s alpha 2. Information ratio Discuss how to selecet the appropriate measures are for…

A: Jensen's alpha and information ratio are important measures used while taking investment decisions.…

Q: 6) Name and define the three parts of an insurance calculation charges?

A: Insurance is a contract, represented by a policy, in which a person or entity receives financial…

Q: Define the key elements of prospective payment and its impact on health care at a facility.

A: A Prospective Payment System (PPS) is a reimbursement method in which a predetermined,fixed amount…

Q: The contract between insured and insurer is O a. Coverage O b. Face value Oc. Policy O d. Premium

A: Insurance means where insurance company agree to pay the specified amount to insured person in case…

Q: 3, Which of the following principles of insurance denotes a positive duty of the person seeking…

A: Utmost good faith principle of insurance: As a general rule, insurance contracts are governed by the…

Q: Define insurance expense.

A: Expense: It refers to the cost incurred by a business to generate revenues in their business…

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: eneral insurance policies are usually taken for :

A: General insurance is an insurance cover that compensates for any financial loss other than death,…

Q: QUESTION 14 What information is contained in the insuring agreement of an insurance policy? O a…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Which of the following sections of a commercial general liability policy contains information about…

A: Commercial General Liability (CGL) policy: You can safeguard your firm from financial ruin with a…

Q: Which of the following is not an insurance management tool? Group of answer choices deductibles.…

A: Insurance management: Insurance Management is the administration of all insurance requirements, both…

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: Discuss SEVEN (7) factors affecting Life insurance premium. Please provide justification for each of…

A: Life insurance is a formal contract between the life insurance company as insurer and an individual…

Q: An insurance refers to a signed agreement between the insured and the insurer. a. Security b.…

A: In Insurance there are two parties, Insurer and Insured

Q: Which of the following statements is correct about perils in property insurance policies?

A: Insurance is a contract by which the insured party is protected against losses by the Insurer in…

Q: Which of the following people represents several insurance companies but owns the policy…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Please describe in a few sentences the purpose of having an insurance card.

A: An insurance card is a card that is issued to the health insurer for a period of one year or more…

Q: What type of information is entered for insurance and why is insurance important?

A: Insurance is a way to protect oneself from financial loss. It is a type of risk management that is…

Q: Explain the relationship between substantive tests of transactionsfor the acquisition and payment…

A:

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: C. POS codes tell the insurance company where the services were provided.

A: As per our instructions we provide the solutions to only accounting related questions only under the…

Q: What are the differences between an insurance agent and an insurance broker? Discuss.

A: Insurance brokers are individuals that sells, buy or negotiate variety of financial products that…

Q: dicuss undertaking in insurance

A: Insurance refers to a contract in the form of a policy between the insurance holders and insurance…

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: Entity A obtains life insurance for its key employee from Entity B (an insurance company). Entity B…

A: Account for Insurance Contract Here the actual facts which was incurred was Entity A can obtain life…

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: Explain 05 distinguishing features between Takaful and Conventional Insurance.

A: Conventional Insurance  Takaful  a) Conventional insurance is a risk transfer model. Takaful is…

Q: Insurance companies may use all of he following sources to oblain underwriting information about an…

A: Insurance is an agreement between the insurer and the insured, where the insurer agrees to pay an…

Q: Discuss in a report of , the following points:       1- Concept and types of insurance with a…

A: Insurance is basically a contract between two parties in which one party called insurance company…