contract of insurance which involves large industrial risks are handled for protection through the completion of?
a proposal form
a policy form
an endorsement
a slip
Correct answer is A
A proposal form is the form completed by the policyholder when applying forinsurance. You will need to fill in information about the risk you are insuring e.g. the rebuild cost of your house or type of car you own.
An insurance policy form that is designed to be used by many different insurers and has exactly the same provisions, regardless of the insurer issuing thepolicy. Most standard insurance policy forms are developed by insuranceadvisory organizations, such as Insurance Services Office, Inc.
A placing slip is a document created by a broker that contains a summary of the terms of a proposed insurance or reinsurance contract which is then presented by the broker to selected underwriters for their consideration.
An insurance endorsement is an amendment or addition to an existing insurance contract which changes the terms or scope of the original policy.
