MANAGEMENT

BUISENESS MANAGEMENT

INSURANCE

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Cabin Ltd was smart enough to insure its factory building against fire accidents. A fire accident occured and burnt the entire building. What should the Cabin Ltd do?
A
Assemble her workers and ask them to cry all day
B
Sack all her workers
C
File a claim with the insurance company
D
Complain bitterly to the insurance company
Explanation: 

Detailed explanation-1: -Fire Claim Properly filled and signed the claim form. A List of damaged contents or items. Newspaper cuttings/Fire Brigade report/Panchnama. Photographs of the damaged site and/or goods.

Detailed explanation-2: -Fire insurance is property insurance that covers losses or damage to a structure damaged or destroyed in a fire. Fire insurance in a standard homeowners policy may be capped at a rate that is less than the cost of the losses accrued.

Detailed explanation-3: -After having chosen a company, the proposer will have to fill in a proposal form which furnishes the basis of the contract. The proposal form requires the proposer to give details such as his name, address, occupation and value and nature of property to be insured, type of policy required, amount of assured sum, etc.

There is 1 question to complete.