Question: Identify and define five (5) loss exposures faced by property owners with regard to Visitors to its premises [5 Marks] After an accident, the insured

  1. Identify and define five (5) loss exposures faced by property owners with regard to Visitors to its premises

[5 Marks]

  1. After an accident, the insured is required to perform certain duties. Describe FIVE (5) duties that the insured must undertake in order to ensure the claim qualifies for settlement by the insurer.

[5 Marks]

  1. What is the objective behind risk loss control .explain why the concept of loss minimization is critical to the overall company goal of profit maximization?

[5 Marks]

  1. Define the term Insurance.

[5 Marks]

  1. Describe the basic characteristics of Insurance

[5 Marks]

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