Vận tải và bảo hiểm C2

What is the principle of indemnity in insurance?

• The insurer guarantees profit to the insured
• The insured must pay extra costs for subrogation
• The insurer compensates the insured for actual losses only
• Insurance benefits are fixed regardless of damage

Which of the following best describes subrogation?

• A method to avoid paying claims
• A process to double the insurance coverage
• The insurer's right to claim from third parties after indemnifying the insured
• The insured's obligation to pay double premium

What does the principle of utmost good faith require?

• Only the insurer must disclose relevant information
• Both parties must act honestly and disclose all material facts
• The insured should keep information confidential
• The insurer can deny claims without explanation

Who is the 'insured' in an insurance contract?

• The person who sells insurance
• The person who provides insurance coverage
• The person who pays premiums without interest
• The person with an insurable interest in the property

Which term refers to transferring part of risk to another insurer?

• Coinsurance
• Reinsurance
• Subrogation
• Premium allocation

Which principle allows the insurer to recover costs from third parties?

• Indemnity
• Utmost good faith
• Subrogation
• Premium calculation

What is the key purpose of utmost good faith in insurance contracts?

• To guarantee fixed returns
• To allow the insurer to reject claims
• To ensure all material facts are disclosed honestly
• To avoid paying commissions to brokers

Who pays the premium in an insurance contract?

• Reinsurer
• Broker
• Insurer
• Insured

What is the function of a broker in insurance?

• They underwrite insurance policies
• They pay the claims on behalf of insurers
• They advise clients and negotiate with insurers
• They act as reinsurers

Which insurance covers liabilities arising from the operation of a ship?

• FIATA Bill of Lading Insurance
• TT Club Insurance
• Property Insurance
• P&I Club Insurance