Insurance WAEC

The principle of insurance that demands that the insured must stand to a loss in the event of a loss before taking a policy is?

A. consideration
B. insurable interest
C. proximate cause
D. subrogation

Correct Answer: Option B

B. insurable interest

Explanation

Insurable interest is defined as the reasonable concern of a person to obtain insurance for any individual or property against unforeseen events such as death, losses, etc. it is the main reason an insurance contract is entered into

Sunday

Share
Published by
Sunday
Tags: Insurance

Recent Posts

OOU JUPEB Admission For Agricultural Extension

Do you want to study Agricultural Extension in OOU? Before you apply for the OOU…

11 months ago

OOU JUPEB Admission For Agricultural Economics

Do you want to study Agricultural Economics in OOU? Before you apply for the OOU…

11 months ago

OOU JUPEB Admission For Cooperative and Business Management

Do you want to study Cooperative and Business Management in OOU? Before you apply for…

11 months ago

OOU JUPEB Admission For Home and Hotel Management

Do you want to study Home and Hotel Management in OOU? Before you apply for…

11 months ago

OOU JUPEB Admission For Animal Production

Do you want to study Animal Production in OOU? Before you apply for the OOU…

11 months ago

OOU JUPEB Admission For Crop Production

Do you want to study Crop Production in OOU? Before you apply for the OOU…

11 months ago