List the characteristics (seven) of insurance contracts and explain each characteristic of insurance contract.

 

4. List and briefly explain the types of insurers as classified by place of incorporating and licensing.

 

5. Distinguish and explain the differences between agents and brokers in the insurance market.

 

Answer rating: 100% (QA)

Characteristics of Insurance Contracts 1 Offer and Acceptance Like any contract an insurance contract requires a clear offer from the insured to purchase coverage and acceptance of that offer by the i... View the full answer