FUNCTIONS OF INSURANCE
INTRODUCTION Risk cannot be eliminated completely. Rather it can only be minimized through provision of financial compensation to the insured that suffers the loss. This can either be individual or business organisation. For example, a man can take up educational…
INSURABLE AND UNINSURABLE RISKS
MEANING OF INSURABLE RISK Insurable risks are those risks accepted for an amount by an insurance company followed with a promise to make financial compensation available to those that experience the losses. This type of risk is the one in…
WORLD WIDE WEB OBJECTIVE QUESTIONS
1) The difference between people with access to computers and the internet and those without this access is known as the: a) digital divide. b) internet divide. c) web divide. d) broadband divide. 2) A…
NETWORKING OBJECTIVE QUESTIONS
1) With respect to a network interface card, the term 10/100 refers to _ a) protocol speed. b) a fiber speed. c) megabits per seconds. d) minimum and maximum server speed. 2) Frames from one…
ELECTRONIC MAIL
INTRODUCTION Electronic mail also known, as e-mail is a means of a computer based communication in which an electronic letter is sent to one or more recipients. It involves basically an e-mail address that identifies the receiver and making it…
THE CONCEPT OF RISK
DEFINITION OF RISK There is no universally accepted definition of risk. It could be defined from any side or angle one is looking at it. Risk has been variously defined by different scholars. Some of these definitions are: Risk is…
HISTORICAL DEVELOPMENT OF INSURANCE
The origin of modern insurance dates back to the practice of merchants in Italy as early as the 12th century. By the 14th century, marine insurance which is the oldest form of insurance had become established in Italy. By the…
ELEMENTS AND ESSENTIAL FEATURES OF AN INSURANCE CONTRACT
ELEMENTS OF AN INSURANCE CONTRACT A contract of insurance requires the presence of the following: Offer. Acceptance. Intention to create legal obligation. Legality of the object. Capacity to contract. 1) Offer: An offer comes from the insured. It is…
DEFINITION OF INSURANCE
Insurance can be seen as a wiseman arrangement of transferring a future loss to someone else by the way of paying a peanut now. It can also be defined as the agreement whereby one party promises to pay (indemnify) another…
INTRODUCTION TO INSURANCE
Individuals and business enterprises are exposed to risks on daily basis as they carry out their daily activities. These risks, as they happen, bring about unfortunate consequences into one’s life. For example, in the recent times, we have heard of…
Study Guide
