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Insurance & Risk Management
September 2022 Examination
Q1.
What
could be the Cruciaity of different Payment Aspects in the Indemnity clauses of
Insurance? (10 Marks)
Ans 1.
Introduction:
In
the words of Roscoe Pound and Rudolf von Ihering, to manage an excellent social
norm and standard, there's a requirement to balance interests. Be it from a
legal attitude or societal perspective, balancing of interest is the maximum
critical aspect. It could be balancing the interest of different parties to a
contract and balancing the interest of the employer and the employee. The world
today has started
Q2.
The
Prospect & Insurance Company foresee each other Utmost Good Faith in Life
Insurance contract
signing – Kindly explain (10 Marks)
Ans 2.
Introduction:
Insurance
aims to amplify the insurance of chance to a large volume. The primary cause of
doing it is compensating for economic losses someone might incur because of
peril or unsure event. It is, therefore, no longer a form of rate to avoid the
peril but to offer help to the economic loss of the beneficiary of the assets.
Prospect and insurance company:
A
prospect is a capacity customer of the insurance. He's the one who has agreed
to buy the coverage. If A needs life insurance, he will go to an insurance
company B and get his life
Q3a.
How
the technicalities of Re Insurance can be perceived in advance? (5 Marks)
Ans 3a.
Introduction:
The
idea of coverage is to make extensive the coverage of hazards to a massive
extent, and the number one purpose of doing it's far to compensate for economic
losses someone may incur because of peril or uncertain event. It is
consequently not a price to avoid the peril but to provide assistance to the
monetary lack of the beneficiary of the property. Once in a while, the coverage
Q3b.
If
a Health Insurance Policy agreement for Cover of Rs 5 Lakhs is about to expire
on 31st of March, on 28th March person gets Heart Attack & gets admitted in
Hospital. Even though person gets a reminder letter on 15th March, still Heath
Insurance policy is not renewed By Pass Surgery is advised. Person also wants
to change Health Insurance Company (Contract) from coming Financial Year.
Kindly advise RIGHT course of Action as per Health Insurance guidelines
parameters (5 Marks)
Ans 3b.
Introduction:
The
idea of insurance is to enlarge the coverage of danger to a large quantity, and
the primary cause of doing its miles to atone for economic losses someone might
incur due to peril or unsure event. It is thus not a type of rate to keep away
from the peril but to offer help to the financial
Dear students, get latest Solved assignments by professionals.
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help.mbaassignments@gmail.com
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