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Requirements for Valid Insurance Contracts

Authored by Enhle Langa

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University

Requirements for Valid Insurance Contracts
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6 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What are the requirements for a valid insurance contract?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

Who are the parties to the insurance contract?

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OFF

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the nature of the interest required in indemnity insurance?

Financial interest

Emotional interest

Social interest

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When is the insurable interest required in indemnity insurance?

At the time of the contract

At the time of loss

At the time of claim

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the nature of the interest required in capital (non-indemnity) insurance?

Unlimited interest

Limited interest

Conditional interest

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When is the interest required in capital (non-indemnity) insurance?

At the time the contract is concluded

At the time of loss

At the time of claim

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