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126

business interruption claims will only be settled if it is caused by?

  • A. permanent disability
  • B. machinery breakdown
  • C. sickness
  • D. death
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127

which of the following is a subject matter of insurance in fire policy

  • A. building
  • B. shares
  • C. corporation
  • D. money
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128

An insurer will recover claims paid wrongly to an insured if

  • A. it was ex-gratia payment
  • B. there was a mistake of law
  • C. the premium had not been paid
  • D. it was effected by court order
View Answer & Discuss WAEC 2016
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129

The principle of insurance that demands that the insured must stand to loss in the event of a loss before taking a policy is

  • A. consideration
  • B. insurable interest
  • C. proximate cause
  • D. subrogation
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130

A guarantee issue by an insurance company to support their client who is applying for a contract is 

  • A. performance bond
  • B. bid bond
  • C. retention bond
  • D. advance payment bond
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