WAEC SSCE - Insurance - 2015

List and explain five principles of insurance.

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Explain the following terms as used in insurance.

(a) re-insurance

(b) Loss adjusters

(c) underwriters

(d) brokers

(e) assessor

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(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.

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List and explain three types of endowment policy.

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Explain the following terms under marine insurance:

(a)       hull policy

(b)       cargo policy

(c)       freight policy

(d)       marine perils

(e)       average

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

(b)State four characteristics of a cover note.

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