Insurance Question Answer 2022

Running Head: INSURANCE 1
INSURANCE

Running Head: INSURANCE
Table of Contents
Part I........................................................................................................................... 3
Question 1.................................................................................................................. 3
Question 2.................................................................................................................. 4
Question 3.................................................................................................................. 4
Question 4.................................................................................................................. 5
PART II........................................................................................................................ 5
Question 5.................................................................................................................. 5
Question 6.................................................................................................................. 5
Question 7.................................................................................................................. 6
Question 8.................................................................................................................. 6
Part III.......................................................................................................................... 6
Question 9.................................................................................................................. 6
Question 10................................................................................................................ 7
Question 11................................................................................................................ 7
Question 12................................................................................................................ 7
References................................................................................................................. 9

Running Head: INSURANCE
Part I
Question 1
A
The rusting of an unprotected structure is an incurable risk. The parameters in case of the
insurance of the property and the loss can be recovered. Hence it is the insurable risk.
B
A genetic defect affecting the new born males in the family is a disease that cannot be insured.
Though it is an insurable risk but to the extent of the primary stage. The insurance companies
cover those risks that can be recovered and are measurable. Hence, it can be concluded as the
non-insurable risk (Christensen, Hayward, Gay, Cielocha & Binion, 2015).
C
The developing of the cancer is an enormous disease that cannot be insured as it comes under the
category of the non- controllable disease. In the case of the cancer the future premiums are not
waived and therefore it comes under the category of the non-insurable risk.
D
The eventual obsolescence of a personal computer can be insured with the assistance of the
Oriental Insurance Company limited. The Electronic Equipment Insurance covers the correct loss
or damage and its data carrying media. The cost of the rebuilding the damage of the computer
can be recovered (Martin, et al 2016).