Insurance Market And Operators
Gbogbo ọrọ náà
Buying insurance can feel like dealing with one faceless company, but behind every motor cover note or fire policy stands a whole marketplace of specialists. Some sell risk, some carry it, some carry the carriers, and a quiet crowd of experts prices, inspects and settles it. Knowing who is who is the difference between a candidate who guesses and one who understands how a Nigerian risk actually gets placed.
In this lesson you will map the insurance market from the buyer at the bottom to the reinsurer at the top, learn the roles of insurers, reinsurers, brokers and agents, and meet the supporting operators such as loss adjusters, actuaries and surveyors. Above all you will settle the one distinction examiners test almost every year: a broker acts for the insured, while an agent acts for the insurer.
Ebumnobi
- Describe the structure of the insurance market and identify its operators
- Distinguish the sellers of insurance from the buyers
- Explain the roles of insurers, re-insurers, brokers and agents
- Describe the supporting services in the market, including loss adjusters, actuaries and surveyors
- Explain how the parts of the market work together to place a risk
Akọmọ Ojú-ẹkọ
Yi rajista ka ci gaba
Kpọpụta akaụntụ n’efu ka ị nweta ohere na ihe ọmụmụ niile, ajụjụ omume, ma soro mmepe gị.
Ayẹwo Ẹkọ
Ekele diri gi maka imecha ihe karịrị na Insurance Market And Operators. Ugbu a na ị na-enyochakwa isi echiche na echiche ndị dị mkpa, ọ bụ oge iji nwalee ihe ị ma. Ngwa a na-enye ụdị ajụjụ ọmụmụ dị iche iche emebere iji kwado nghọta gị wee nyere gị aka ịmata otú ị ghọtara ihe ndị a kụziri.
Ị ga-ahụ ngwakọta nke ụdị ajụjụ dị iche iche, gụnyere ajụjụ chọrọ ịhọrọ otu n’ime ọtụtụ azịza, ajụjụ chọrọ mkpirisi azịza, na ajụjụ ede ede. A na-arụpụta ajụjụ ọ bụla nke ọma iji nwalee akụkụ dị iche iche nke ihe ọmụma gị na nkà nke ịtụgharị uche.
Jiri akụkụ a nke nyocha ka ohere iji kụziere ihe ị matara banyere isiokwu ahụ ma chọpụta ebe ọ bụla ị nwere ike ịchọ ọmụmụ ihe ọzọ. Ekwela ka nsogbu ọ bụla ị na-eche ihu mee ka ị daa mba; kama, lee ha anya dị ka ohere maka ịzụlite onwe gị na imeziwanye.
- In the insurance market, an insurance broker acts as the agent of the: A. Insurer B. Insured C. Reinsurer D. Regulator Answer: B
- Which of the following best describes a reinsurer? A. A broker who deals only in large risks B. A company that insures members of the public directly C. A company that accepts risk ceded to it by an insurer D. A government body that regulates insurers Answer: C
- A large factory fire claim is to be investigated on behalf of the insurance company. The operator appointed is a: A. Loss assessor B. Loss adjuster C. Surveyor D. Actuary Answer: B
- An insurer can retain 40,000,000 naira on a risk and reinsures the balance of a 100,000,000 naira cover. If the reinsurer bears the same proportion of any loss as of the risk, its share of a 50,000,000 naira loss is: A. 20,000,000 naira B. 30,000,000 naira C. 40,000,000 naira D. 50,000,000 naira Answer: B
- Which supporting operator uses statistics and probability to calculate premiums and reserves? A. Surveyor B. Loss adjuster C. Actuary D. Broker Answer: C
Yi rajista ka ci gaba
Kpọpụta akaụntụ n’efu ka ị nweta ohere na ihe ọmụmụ niile, ajụjụ omume, ma soro mmepe gị.
Yi rajista ka ci gaba
Kpọpụta akaụntụ n’efu ka ị nweta ohere na ihe ọmụmụ niile, ajụjụ omume, ma soro mmepe gị.
Àwọn Ìwé Tó Dáa Láti Kà
Àwọn Ìbéèrè Tó Ti Kọjá
Nna, you dey wonder how past questions for this topic be? Here be some questions about Insurance Market And Operators from previous years.
Ajụjụ 1 Ripọtì
Explain the following terms as used in insurance.
(a) re-insurance
(b) Loss adjusters
(c) underwriters
(d) brokers
(e) assessor
Yi rajista ka ci gaba
Kpọpụta akaụntụ n’efu ka ị nweta ohere na ihe ọmụmụ niile, ajụjụ omume, ma soro mmepe gị.