(Subject: Insurance and risk management) You are a supervisor at CBC Insurance Company, the leading insurance company in the town. During the school holidays, your company has been be visited by grade 12 learners from Town High School. One of the learners that aspires to be insurance broker asks the following questions and vou have to answer him. a) Difference between wagering agreement, contingent contract and insurance contract b) Explain four important insurance terminologies and cite examples CF ensured his household goods against flood. Due to heavy rains this year, the central region experienced flooding and the house for CF being in the central region was also affected. CF submitted a claim at CBC but his claim was rejected. You manager has just informed you to send an email to CF informing him that his claim was rejected. Upon receiving the email and before coming to your office for formal inquiry, CF has phoned you to give him the possibilities as to why his claim was rejected. Outline to him the possible five reasons.
(Subject: Insurance and risk management) You are a supervisor at CBC Insurance Company, the leading insurance company in the town. During the school holidays, your company has been be visited by grade 12 learners from Town High School. One of the learners that aspires to be insurance broker asks the following questions and vou have to answer him. a) Difference between wagering agreement, contingent contract and insurance contract b) Explain four important insurance terminologies and cite examples CF ensured his household goods against flood. Due to heavy rains this year, the central region experienced flooding and the house for CF being in the central region was also affected. CF submitted a claim at CBC but his claim was rejected. You manager has just informed you to send an email to CF informing him that his claim was rejected. Upon receiving the email and before coming to your office for formal inquiry, CF has phoned you to give him the possibilities as to why his claim was rejected. Outline to him the possible five reasons.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Question
(Subject: Insurance and risk management)
You are a supervisor at CBC Insurance Company, the leading insurance company in the town.
During the school holidays, your company has been be visited by grade 12 learners from Town High School. One of the learners that aspires to be insurance broker asks the following questions
and vou have to answer him.
a) Difference between wagering agreement, contingent contract and insurance contract
b) Explain four important insurance terminologies and cite examples
CF ensured his household goods against flood. Due to heavy rains this year, the central region experienced flooding and the house for CF being in the central region was also affected.
CF submitted a claim at CBC but his claim was rejected. You manager has just informed you to send an email to CF informing him that his claim was rejected. Upon receiving the email and before coming to your office for formal inquiry, CF has phoned you to give him the possibilities as to why his claim was rejected. Outline to him the possible five reasons.
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