Briefly explain the difference between an insurance and an assurancepolicy?

Q: What are the performance measures of an insurance company?

A: Insurance is a contract in which an individual or business receives financial protection or…

Q: What kind of insurance  forms may not be included in the comprehensive forms?

A: Insurance: Insurance is the protection against an individual or an asset for the financial losses…

Q: What are your recommendations for Insurance companies ?

A: 1.lapsation benifit to all 2. Reasonable refundable value 3. Single expense ratio

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: 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: Explain Default Insurance?

A: Insurance is defined as a type of protection is a lawful understanding between two parties for…

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: 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: 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: 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 importance of insurance companies?

A: Insurance firms are financial middlemen that provide direct insurance or reinsurance services,…

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: Differentiate between Current liabilities, Non-Current Liabilities and Provisions. Provide an…

A: The liabilities are the amount payable by the business to the outsiders or creditors.

Q: Define bond insurance

A: Bond Insurance is also known as financial guarantee insurance. As the name suggests, it means that…

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: Describe the Investments in Life Insurance Policies.

A: Life Insurance policies are to provide financial support to the beneficiaries and dependents after…

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: Under IFRS 4, what are the three important elements of an insurance

A: IFRS 4 - Insurance contracts refers to international financial reporting standard on insurance…

Q: Define Hazard Insurance?

A: Hazard insurance: Hazard insurance is designed to  coverages. Generally it covered against…

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: dicuss undertaking in insurance

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

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: Define this following terms: Environmental Risks, liability risks, insurable risks, self insurance

A: Self-insurance: The act of setting aside or creating funds to meet unexpected incomes and overcome…

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: 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: 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…

Q: Explain the Kinds of Title Insurance Policies?

A: An insurance policy that shields the insurance holder from financial loss that arises from the…

Classification Of Risk

Risk means when there could be a possibility that the returns expected from a particular project or investment may or may not match the investor's expectations. In other words, the uncertainty of an income arising from a source that would either be lower than expected or result in losses in risk exposure of the project. The higher the risk involved, the higher is the return expected by the investor as the investor is exposed to a high level of risk. There are various methods by which different types of risk can be assessed and avoided or mitigated.