A primary function of insurance is the?
...A primary function of insurance is the?
creation of a common pool
provision of security
stimulation of business enterprises
loss prevention and control
Correct answer is D
The main function of the insurance is to provide protection against the probable chances of loss. The time and amount of loss are uncertain and at the happening of risk, the person will suffer the loss in absence of insurance. The insurance guarantees the payment of loss and thus protects the assured from sufferings.
one of the duties of a loss adjustor is ...
The minimum cover for motorist in nigeria is? ...
The policy which covers either death or disability resulting from an injury is ...
An attachment to an insurance policy that modifies the policy is? ...
when a policy is cancelled before its expiry date, what is owed to the insured is ...
A risk is classified uninsurable when the ...
The body that regulates the activities of insurance market in Nigeria ...