BUISENESS MANAGEMENT
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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person who wants to protect his property
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insurance company
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workers in an insurance company
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manager of the insurance company
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Detailed explanation-1: -The insurer is defined as the company that issues insurance policies, handles claims, and sells policies. Moreover, the insurer is responsible in providing financial coverage to their customer in the form of sum assured in case of occurrence of the event (stated in the policy).
Detailed explanation-2: -Insurer also called ‘insurance company’ is the entity that accepts the risk and promises to pay for the losses that arise within the policy term. The insurer commits to pay for loss in exchange of the premiums, paid regularly.
Detailed explanation-3: -1. a person or company that contracts to indemnify another in the event of loss or damage; underwriter. 2. a person or thing that insures.
Detailed explanation-4: -A company that creates insurance products to take on risks in return for the payment of premiums. Companies may be mutual (owned by a group of policyholders) or proprietary (owned by shareholders). (Also known as insurer or provider).
Detailed explanation-5: -General Insurance Corporation of India (GIC of India) is the sole National Reinsurer, providing Reinsurance to the Insurance companies in India.