(a) Outline three types Of policy in motor insurance.

(b) List and explain three scopes of cover. in motor insurance. 
 

State five duties each of the following.

(a) insurance brokers

(b) insurance-agents

(c) Nigerian Insurers Association. 

 Read the case below carefully and answer the questions which follow.

                                                    UNFAVOURABLE BUSINESS ENVIRONMENT
Garola Kubusa Limited is a Manufacturer of packaging products and has been in operation for several years. The manufacturing industry has been experiencing Challenges and setbacks in recent times, the packaging sector seems to be the worst hit. The operating environment had not been conducive in the areas of power supply, fluctuating value of currency and inconsistent government policies. The plastic packaging sub-sector in which Garola Kubusa operates is not left out in these problems. The company gets its raw materials some of which are polypropylene and wax from a petrochemical plant located in Port Harbey, Rivers State from where they are transported by the company's trailers 'and at times by hired vehicles to the factory site in Asaba, Delta State. The company has not had it smooth due to losses arising from damage to plant and machinery, competition, fire, explosion, pilfering of company's finished products by the employees as well as embezzlement of funds. In severe cases, the company had to shut down for some months before repairs were carried out A good number of the company's customers had absconded with huge debts yet to be paid and left for other companies who are Garola Kubusa's competitors. The company is now considering various alternatives such as importation of raw materials, partly finished goods and finished products in order to restore customers' confidence and meet their demands and tastes while contracting out some of their manufacturing operations as Well to other companies operating in the sector.

(a) Identify and explain four classes of insurance that could help Garola Kubusa Limited in its business operations.

(b) Should Garola Kubusa Limited take insurance cover against losses arising from competition? Give reason for your answer.

(c) If the company resort to importation of its raw materials and finished products; recommend and explain the appropriate insurance cover to take to that effect. 
 

(a) Explain the following concepts as used in insurance:
(i) subject matter of insurance
(ii) subject matter of contract.

(b) State when a policy holder is expected to prove his insurable interest in the following classes of insurance:
(i) Burglary insurance
(ii) Marine insurance
(iii) Life assurance. 
 

(a) Explain a fidelity guarantee insurance policy.

(b) List and explain the four types of policies in fidelity guarantee insurance.