Insurance Company Question Answer 2022

Running Head: INSURANCE 1
INSURANCE

Running Head: INSURANCE
Table of Contents
Question 1..................................................................................................................... 3
Question 2..................................................................................................................... 4
Protects the wealth of society........................................................................................... 4
Eliminates the social evil................................................................................................ 4
Helps in enhancing the standard of living............................................................................ 4
The benefits also accounts for the social security benefits........................................................5
Equitable distribution of loss............................................................................................ 5
Question 3.................................................................................................................. 5
Question 4.................................................................................................................. 5
PART II........................................................................................................................ 6
Question 5.................................................................................................................. 6
Question 6.................................................................................................................. 6
Question 7.................................................................................................................. 6
Question 8.................................................................................................................. 7
Part III.......................................................................................................................... 7
Question 9.................................................................................................................. 7
Question 10................................................................................................................. 7
Question 11.................................................................................................................... 8
References..................................................................................................................... 9

Running Head: INSURANCE
Question 1
A
Rusting of an unprotected structure can be considered as the insurable risk as the damage
to the property can be insured and it also falls down in the parameters of the insurance company.
The property can be insured up to the amount of the loss (Zuo & Hang, 2018).
B
A genetic defect affects 9 of 10 new born males in a family can be cured and cannot be
cured. The insurance companies generally take the decisions on the basis of the level of the risk
associated with the disease can be cured or not. Hence, some considers it as a insurable risk, only
to the extent of the preliminary stage (Andrews, 2015).
C
Developing a cancer can be insured but only to a particular stage. It has been observed in
many policies that the organs are covered by the insurance policy, even the payment of the
dialysis can be made, however the payment for the cancer will be made only when the tumor
reflects the uncontrolled growth. The future premiums are not waived. Hence, it is considered as
non-insurable risk (Soni, Sabik, Simon & Sommers, 2018).
D
Eventual obsolescence of a personal computer can be insured under the Oriental
Insurance company limited. The electronic equipment is insured and protects the Owner, Lessor