MANAGEMENT

BUISENESS MANAGEMENT

INSURANCE

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
A person who has taken out insurance cover is known as the ____
A
insurer
B
insured
C
insurance
D
None of the above
Explanation: 

Detailed explanation-1: -3) The insurer is the insurance company that provides the insurance cover. 4) The proposer is the person who takes the cover and is also called the policyholder.

Detailed explanation-2: -Insured is the person who is covered against risk. On the other hand, the insurer is the company that is providing coverage. It is a service that an insurer provides under a particular insurance policy against a premium paid by the policyholder.

Detailed explanation-3: -The Named Insured is the person (or people) or business (or businesses) actually named in the policy. There can be more than one named insured, and you can usually find these on the first page. In most cases, the business will be the only named insured, but the owners or subsidiaries can also be Named Insureds.

There is 1 question to complete.