Which of the following conditions must be met before an i...
Which of the following conditions must be met before an insurer is under obligation to pay claim
loss notification
premium payment
completion of proposal form
submission of policy paper to the insurer
Correct answer is B
In insurance, the insurance policy is a contract between the insurer and the insured, known as the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language. The insurer is only obligated to pay for claims if the insured keeps their own part of the bargain by paying the premium.
The body that regulates the activities of insurance market in Nigeria ...
A general question in an insurance proposal form is ...
payment of compensation under professional indemnity insurance would be influenced by? ...
A risk is classified uninsurable when the ...
The document issued to Eke within one week of the contract is ...
The expert who uses statistics to develop the premium payable in a life contract is an ...