WAEC - Insurance (2018 - No. 5)
A risk considered as sub standard in future can be dealt with by insurers through
(i) premium loading (ii) double insurance (iii) excess imposition
I and II
I and III
II and III
I,II and III
설명
premium loading; The amount an insurer needs to cover its expenses and generate profit.
Excess imposition - Your insurer may impose a non-standard excess, because of the number of claims you have had, or other factors which may mean you are more likely to make a claim.