Question: Question 4 (9 Marks) a. Identify and explain the basic perils insured under a Standard Fire Policy. Name any three extra perils that can be

Question 4 (9 Marks) a. Identify and explain the basic perils

Question 4 (9 Marks) a. Identify and explain the basic perils insured under a Standard Fire Policy. Name any three extra perils that can be insured under the Standard Fire Policy. 4 marks b. What is the purpose of arranging a Consequential Loss insurance cover? Explain why an insured may only be able to obtain a Consequential Loss insurance cover after they have purchased the relevant fire policy. 5 marks

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