What is a pre-condition for a risk to be insurable?

Trade Practice & Incoterms

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Business
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University
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Easy
Nur Hazim
Used 5+ times
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70 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Loss must be fortuitous
There must be insurable interest
Loss must not be excessive
It must not be against public interest
Actual loss itself must be unforeseen
2.
OPEN ENDED QUESTION
3 mins • 1 pt
Define and explain the 4 Principles of Marine Insurance.
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3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Marine Adventure is an Adventure in which...
- Any property that is insured (Ship, Goods or Cargo) is exposed to maritime perils (Risks)
Any earning or acquisitions of freight, commissions, profits, financial benefits, any security on advances, loans, disbursements etc. are endangered by exposure of the insured property to maritime perils
- Any liability to third party, which may be incurred by the owner, or any person responsible for the insured property is exposed to maritime perils
the insurer undertakes to indemnify the assured in manner and to the extent thereby agreed, against marine losses, that is to say, the losses incident to marine adventure
4.
OPEN ENDED QUESTION
3 mins • 1 pt
What are maritime perils?
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5.
FILL IN THE BLANK QUESTION
1 min • 1 pt
Examples of Maritime Perils
6.
FILL IN THE BLANK QUESTION
1 min • 1 pt
Examples of Maritime Perils
7.
FILL IN THE BLANK QUESTION
1 min • 1 pt
Examples of Maritime Perils
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