WAEC SSCE - Insurance - 2015

Explain the following terms as used in insurance.

(a) re-insurance

(b) Loss adjusters

(c) underwriters

(d) brokers

(e) assessor

(a)List seven contents of a certificate of insurance.

(b)State four characteristics of a cover note.

Explain the following terms under marine insurance:

(a)       hull policy

(b)       cargo policy

(c)       freight policy

(d)       marine perils

(e)       average

(a)Define the term employer's liability in insurance.

(b)State three benefits that can be covered under employer's liability.

(c)State three causes of business interruption.

List and explain three types of endowment policy.

List and explain five principles of insurance.