Policy

Bayani Gaba-gaba

When a claim is disputed, nobody argues over what was said across the counter. Everyone turns to one document: the policy. It is the black and white record of the bargain, and knowing how to read it is the difference between a candidate who guesses and one who can point to the exact clause that settles the matter.

This lesson opens the policy up and shows you what each part is for. You will learn why lawyers call the policy evidence of the contract rather than the contract itself, you will meet its seven parts in the order they appear, from the heading down to the signature, and you will learn who the parties to a policy are and what each of them stands to gain or lose.

Manufura

  1. Define an insurance policy and explain its status as evidence of the contract
  2. Identify the component parts of a policy: heading, recital, operative clause, exceptions, conditions and schedule
  3. State the purpose of each component part
  4. Identify the parties to a policy and explain the interest of each

Takardar Darasi

Emeka insures his provision store in Nnewi against fire. A year later a fire started by rioters guts the shop. He files a claim, certain he is covered, and the insurer declines. Emeka is furious until his broker turns to a single page of the document and shows him one short paragraph that quietly took riot out of the cover. The paragraph was always there. Emeka had simply never read his policy. Learn how a policy is built and you can read any one of them, tell at a glance what is covered and what is not, and answer the examiner's favourite question: which part of a policy does this job?

Nazarin Darasi

Barka da kammala darasi akan Policy. Yanzu da kuka bincika mahimman raayoyi da raayoyi, lokaci yayi da zaku gwada ilimin ku. Wannan sashe yana ba da ayyuka iri-iri Tambayoyin da aka tsara don ƙarfafa fahimtar ku da kuma taimaka muku auna fahimtar ku game da kayan.

Za ka gamu da haɗe-haɗen nau'ikan tambayoyi, ciki har da tambayoyin zaɓi da yawa, tambayoyin gajeren amsa, da tambayoyin rubutu. Kowace tambaya an ƙirƙira ta da kyau don auna fannoni daban-daban na iliminka da ƙwarewar tunani mai zurfi.

Yi wannan ɓangaren na kimantawa a matsayin wata dama don ƙarfafa fahimtarka kan batun kuma don gano duk wani yanki da kake buƙatar ƙarin karatu. Kada ka yanke ƙauna da duk wani ƙalubale da ka fuskanta; maimakon haka, ka kallesu a matsayin damar haɓaka da ingantawa.

  1. The part of an insurance policy that states the actual cover granted by the insurer is the: A. Heading B. Operative clause C. Schedule D. Attestation Answer: B
  2. Which part of a policy carries the sum insured, the premium and the period of cover for a particular customer? A. Recital B. Exceptions C. Schedule D. Conditions Answer: C
  3. An insurance policy is best described as: A. The contract itself B. Evidence of the contract C. An offer to contract D. A proposal for insurance Answer: B
  4. Which of the following is NOT a component part of an insurance policy? A. Recital B. Operative clause C. Proposal form D. Schedule Answer: C
  5. The two principal parties to an insurance policy are the: A. Insurer and the broker B. Insurer and the insured C. Insured and the beneficiary D. Broker and the third party Answer: B

Littattafan da ake ba da shawarar karantawa

Principles of Risk Management and Insurance
Principles of Risk Management and Insurance
Sunaƙa: Thirteenth edition
Mai wallafa: Pearson
Shekara: 2016
ISBN: 978-0-13-408257-8
Bayanan bayanin.: The standard introduction to risk and insurance, covering risk management, insurer operations and the main lines of life, health, property and liability cover.
Fundamentals of Risk and Insurance
Fundamentals of Risk and Insurance
Sunaƙa: Tenth edition
Mai wallafa: Wiley
Shekara: 2008
ISBN: 978-0-470-08753-4
Bayanan bayanin.: A clear account of the nature of risk and the economics of insurance, written for beginning students across life, health, property and liability insurance.
Fundamentals of Insurance
Fundamentals of Insurance
Sunaƙa: Second edition
Mai wallafa: Himalaya Publishing House
Shekara: 2017
ISBN: 978-93-5097-079-9
Bayanan bayanin.: An accessible treatment of insurance in four parts: the basics of risk, insurance management, life insurance and non-life insurance.

Tambayoyin Da Suka Wuce

Kana ka na mamaki yadda tambayoyin baya na wannan batu suke? Ga wasu tambayoyi da suka shafi Policy daga shekarun baya.

WAEC SSCE - Insurance - 2015

Tambaya 1 Rahoto

List and explain three types of endowment policy.

Duba Amsa