The winding up of an insurance is legally required to be ...
The winding up of an insurance is legally required to be based on a petition written from not less than
30 policy holders
40 policy holders
50 policy holder
60policy holders
Correct answer is C
The Insurance Act 2003 provides for the liquidation of insurers on the petition of either 50 policyholders or the National Insurance Commission. Section 33 of the act prohibits the voluntary winding up of insurance businesses, except for the purpose of effecting an amalgamation, transfer or acquisition.
Insurance is defined as pooling of risk because many people ...
The policy of insurance is signed by the? ...
The right to effect a contract of insurance on the life of a debtor by the creditor is? ...
A condition precedent to an insurance contract is the ...
The person named to recieve the life assurance proceeds after the date of the life assured...