Menu
Home
Advertise
Forums
Search forums
What's new
Unread posts
Latest activity
Earn Money
Review Website/Apps
Passive Income
Money apps
Paid Survey
Stock
Forex
Real estate
Paid to write
Social Media Monetization
Crytocurrency
Bitcoin (BTC)
Ethereum (ETH)
Crypto Exchange
Mining
Crypto Faucet / Airdrops
Binance
Business
Business strategy
Funding a business
Marketing
Digital Marketing
Social media marketing
Email marketing
Brand management
Personal Finance
Money Saving
Personal loan
Retirement
Debt help
Savings for Students
Tax relief
Insurance
Car Insurance
Life Insurance
Liability Insurance
Home Insurance
Health Insurance
Disability Insurance
FAQ
Log in
Register
What's new
Search
Search
Search titles only
By:
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Money Making Forums
Business Ideas Forum
Requirements for insurable risk
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
[QUOTE="Mastergp, post: 272165, member: 85422"] According to some reachers the view that insurable risks must meet the following conditions before it can be covered they include the following: Large group: This implies that for a risk to be covered , it mist be predicted that large number of people must have the likelihood of suffering from such peril. Hence, the of large number must prevail because the premium paid by other will be used to indemnify others if the risk covered occurred. Definite loss: There must be a real value for the loss if it occurs. Hence for risk to insurable, the value of such risk should be determinable though this may not be easy. The easier it is to determine the value of the risk, the earlier it is to settle claims without fracas. Large loss: The loss to be covered must be sizeable in nature and should be such that firm can like by. It has been said that business tend to self insure against minor risks. They buy risks that could threaten their survival and for the fact That many of such losses are covered, firms are able to cope if any one occur. Hence, losses covered take care of any one occurring. Insuring small losses are uneconomical because of the high cost associated with writing and administering insurance policies. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Money Making Forums
Business Ideas Forum
Requirements for insurable risk
Top