UNDERWRITING AND REINSURANCE
Underwriting: This is the process whereby a merchant of insurance company undertakes to cover, underwrite a portion of a risk or assume part of a risk. This is common in marine insurance because of the enormous cost involved which cannot…
FIRE INSURANCE
Fire Insurance is a type of insurance which provides cover for loss or damage caused by burning. A person can insure himself or property against any loss as a result of fire, lighting, wiring, lightning and explosion. It covers all…
LIFE ASSURANCE
Life Assurance is one important branch of insurance which is taken as a protection against loss caused by the death of a person. This policy covers human beings and not properties. The risk covered here will inevitably occur but the…
MARINE INSURANCE
Marine insurance is a branch of insurance which covers losses or liabilities relating to ship and their cargoes against the dangers or perils of the sea. This is probably the oldest form of insurance. The perils of the sea include…
TYPES OF INSURANCE
There are various risks which a business should Insure against. These constitute the various types of insurance, namely: Bad debts. Goods in transit. Group insurance. Cash in transit. Fidelity guarantee. Export credit guarantee. Plate glass. Agricultural insurance. Burglary, theft, robbery.…
DEFINITION OF INSURANCE AND ASSURANCE
Insurance can be defined as an agreement whereby one party promises to indemnify or pay another party a sum of money in the event of his suffering a specified loss or damages. It can also be defined as a system…
CAREER OPPORTUNITIES FOR COMMERCIAL STUDENTS
CAREER OPPORTUNITIES IN COMMERCIAL STUDIES There are various career opportunities available for people in the job market, but this book will look at different categories of careers opened to commercial students. This topic will provide useful information for school certificate…
Study Guide
