Insurance WAEC

Certificate Of Insurance

Akopọ

You almost never see your insurance policy. It sits in a drawer, thirty pages of clauses you will read only if something goes wrong. What you carry, show and produce is something much smaller: a single sheet called the certificate of insurance. When a police officer at a checkpoint in Lagos asks a driver to prove the car is insured, it is the certificate he wants to see, not the policy.

This lesson explains what a certificate of insurance is, why the law in some classes of business insists on one, and how the certificates used in motor, marine and employer's liability insurance each do a slightly different job. You will learn exactly what a motor certificate must show, why a Nigerian motorist may not drive without it, and how to tell a certificate apart from the policy it stands for: a distinction examiners test almost every year.

Awọn Afojusun

  1. Define a certificate of insurance and explain its evidential purpose
  2. Describe the certificate used in motor insurance and state its statutory role
  3. Describe the certificates used in marine and in employer's liability insurance
  4. Distinguish the certificate of insurance from the policy document

Àwòrán ọpọlọ

A ti ṣe àwòrán kókó yìí kí o lè rí bí àwọn èrò ṣe so pọ̀.

Káàdì ìrántí

Ìdánrawò kíákíá lórí ohun tí wọ́n ń dán wò nínú kókó yìí.

Akọ̀wé Ẹ̀kọ́

A young driver in Ibadan buys her first car, pays for third party motor insurance, and drives off pleased with herself. A week later a traffic officer stops her and asks for proof of insurance. She hands over a thick booklet of policy conditions. The officer waves it away and asks again for the certificate. She does not have it with her, and she cannot understand the difference. The difference is the whole of this topic. The policy is the contract; the certificate is the short, official proof of it that the law tells her to keep and to produce. Learn what the certificate is, what it must contain, and when it must be shown, and you have learned one of the most practical pieces of insurance a Nigerian student will ever use.

Ìdánwò Ẹ̀kọ́

Oriire fun ipari ẹkọ lori Certificate Of Insurance. Ni bayi ti o ti ṣawari naa awọn imọran bọtini ati awọn imọran, o to akoko lati fi imọ rẹ si idanwo. Ẹka yii nfunni ni ọpọlọpọ awọn adaṣe awọn ibeere ti a ṣe lati fun oye rẹ lokun ati ṣe iranlọwọ fun ọ lati ṣe iwọn oye ohun elo naa.

Iwọ yoo pade adalu awọn iru ibeere, pẹlu awọn ibeere olumulo pupọ, awọn ibeere idahun kukuru, ati awọn ibeere iwe kikọ. Gbogbo ibeere kọọkan ni a ṣe pẹlu iṣaro lati ṣe ayẹwo awọn ẹya oriṣiriṣi ti imọ rẹ ati awọn ogbon ironu pataki.

Lo ise abala yii gege bi anfaani lati mu oye re lori koko-ọrọ naa lagbara ati lati ṣe idanimọ eyikeyi agbegbe ti o le nilo afikun ikẹkọ. Maṣe jẹ ki awọn italaya eyikeyi ti o ba pade da ọ lójú; dipo, wo wọn gẹgẹ bi awọn anfaani fun idagbasoke ati ilọsiwaju.

  1. A certificate of insurance is best described as: A. The full contract between insurer and insured B. Evidence that a contract of insurance exists and is in force C. A receipt for the premium paid D. A proposal form completed by the insured Answer: B
  2. Which document must a Nigerian motorist produce to a police officer on demand? A. The policy document B. The proposal form C. The certificate of insurance D. The premium receipt Answer: C
  3. Which of the following is NOT normally shown on a motor certificate of insurance? A. The registration mark of the vehicle B. The persons entitled to drive C. The full list of policy exceptions D. The date the cover expires Answer: C
  4. A certificate of marine insurance issued under an open cover is usually: A. Fixed to one shipment and cannot be passed on B. Transferable to a buyer by endorsement C. The same document as the ship's log D. Issued only after the goods are lost Answer: B
  5. An employer's liability certificate is typically: A. Kept secret from employees B. Displayed at the workplace as evidence of cover C. Handed to each customer D. Produced only to the police Answer: B

Awọn Iwe Itọsọna Ti a Gba Nimọran

Principles of Risk Management and Insurance
Principles of Risk Management and Insurance
Atunkọ: Thirteenth edition
Olùtẹ̀jáde: Pearson
Odún: 2016
ISBN: 978-0-13-408257-8
Apejuwe: 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
Atunkọ: Tenth edition
Olùtẹ̀jáde: Wiley
Odún: 2008
ISBN: 978-0-470-08753-4
Apejuwe: 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
Atunkọ: Second edition
Olùtẹ̀jáde: Himalaya Publishing House
Odún: 2017
ISBN: 978-93-5097-079-9
Apejuwe: An accessible treatment of insurance in four parts: the basics of risk, insurance management, life insurance and non-life insurance.

Ibeere Atunyewo

Ṣe o n ronu ohun ti awọn ibeere atijọ fun koko-ọrọ yii dabi? Eyi ni nọmba awọn ibeere nipa Certificate Of Insurance lati awọn ọdun ti o kọja.

WAEC SSCE - Insurance - 2015

Ibeere 1 Ìròyìn

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

(b)State four characteristics of a cover note.

Awọn alaye Idahun

(a) Seven contents of a certificate of insurance

  1. The name and address of the insured (policyholder).
  2. The registration number or particulars of the vehicle insured.
  3. The effective date and time from which the cover begins.
  4. The date of expiry of the insurance.
  5. The persons or classes of persons entitled to drive.
  6. The limitations as to use (for example social, domestic and pleasure purposes).
  7. The conditions under which the policyholder may drive other vehicles.
  8. A statement that the policy satisfies the requirements of the relevant Road Traffic law, with the insurer's name and signature.

(b) Four characteristics of a cover note

  1. It is a temporary document issued as evidence of insurance pending the preparation of the full policy or certificate.
  2. It is valid only for a short, limited period, usually about thirty days.
  3. It gives the insured immediate cover from the moment of issue.
  4. It can be cancelled or replaced once the formal policy document is issued, and it may be renewed if the policy is delayed.
Wo Idahun