Podcast
Questions and Answers
Which type of insurance provides coverage for damage to a ship or its cargo?
Which type of insurance provides coverage for damage to a ship or its cargo?
- Fire insurance
- Marine insurance (correct)
- Life insurance
- Health insurance
Which type of insurance provides a lump-sum payment to beneficiaries upon the insured person's death?
Which type of insurance provides a lump-sum payment to beneficiaries upon the insured person's death?
- Life insurance (correct)
- Marine insurance
- Health insurance
- Motor vehicle insurance
Which type of insurance provides coverage for medical expenses and loss of income due to illness or injury?
Which type of insurance provides coverage for medical expenses and loss of income due to illness or injury?
- Health insurance (correct)
- Life insurance
- Motor vehicle insurance
- Fire insurance
What is the primary purpose of re-insurance?
What is the primary purpose of re-insurance?
Which type of insurance provides compensation in case of loss or damage to property due to fire?
Which type of insurance provides compensation in case of loss or damage to property due to fire?
What does 'double insurance' refer to?
What does 'double insurance' refer to?
In the context of insurance, what does 're-insurance' specifically involve?
In the context of insurance, what does 're-insurance' specifically involve?
What potential impact does re-insurance have on an insurance company's financial stability?
What potential impact does re-insurance have on an insurance company's financial stability?
In insurance, what is the term for the situation when a policyholder insures the same risk with multiple insurance companies?
In insurance, what is the term for the situation when a policyholder insures the same risk with multiple insurance companies?
What type of insurance occurs when an insurer obtains insurance from another insurer to cover part of the risk it has assumed?
What type of insurance occurs when an insurer obtains insurance from another insurer to cover part of the risk it has assumed?
Which type of insurance involves a situation where two or more insurers share the same risk on the same property at the same time?
Which type of insurance involves a situation where two or more insurers share the same risk on the same property at the same time?
What type of insurance is designed to provide coverage that exceeds the limits of a traditional insurance policy or provides additional coverage for specific risks not covered under the primary policy?
What type of insurance is designed to provide coverage that exceeds the limits of a traditional insurance policy or provides additional coverage for specific risks not covered under the primary policy?
