Mr Lou who assured his life with XYZ Assurance Company, w...
Mr Lou who assured his life with XYZ Assurance Company, was involved in an accident and had a broken leg; the sum of #80,000 was paid to Mr Lou for his broken leg. The money received is known as
compensation
commission
premium
indemnity
Correct answer is D
Indemnity insurance is a contractual agreement in which one party guarantees compensation for actual or potential losses or damages sustained by another party. Mr Lou was indemnify at the tone of N80,000
The consumer is always right. This describes the doctrine of? ...
International trade takes place as a result of? ...
Balance of payment problems arise if a country's? ...
An application form which is filled by anyone taking out an insurance policy is called? ...
A function generally performed by authorities of both the air and seaport is the? ...
Which of the following is the acceptable classification of warehouse? ...