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The transfer of risks already undertaken from one insurance company to another is?  

Commerce
JAMB 2025

The transfer of risks already undertaken from one insurance company to another is?

 

  • A. Re-insurance
  • B. Under insurance
  • C. Over-insurance
  • D. Group insurance
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Correct Answer: Option A
Explanation

Re-insurance is the practice where an insurance company transfers a part of its risk to another insurance company to protect
itself from large claims. It allows the insurer to remain solvent after major claims events.

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WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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