The winding up of an insurance is legally required to be ...
The winding up of an insurance is legally required to be based on a petition written from not less than
30 policy holders
40 policy holders
50 policy holder
60policy holders
Correct answer is C
The Insurance Act 2003 provides for the liquidation of insurers on the petition of either 50 policyholders or the National Insurance Commission. Section 33 of the act prohibits the voluntary winding up of insurance businesses, except for the purpose of effecting an amalgamation, transfer or acquisition.
The document used pending the issuance of certificate in motor insurance policy is ...
The person named to recieve the life assurance proceeds after the date of the life assured...
An attachment to an insurance policy that modifies the policy is? ...
A clause that prevents the insurer from paying under a policy if the insured killed himself is? ...
family income benefit effected without capital benefit pays the sum assured from the ...
The factor which increases the possibility of loss that emanates from the insured attitude is? ...
The form of term assurance that operates three options which must be excised before maturity is ...