FIRE INSURANCE WHAT IS FIRE INSURANCE? Fire insurance is a contract under which the insurer in return for a consideration (premium) agrees to indemnify the insured for the financial loss which the latter may suffer due to destruction of or damage to property or goods‚ caused by fire‚ during a specified period. The contract specifies the maximum amount‚ agreed to by the parties at the time of the contract‚ which the insured can claim in case of loss. This amount is not‚ however‚ the measure
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The product The first market mix element is Product. A product is anything that can be offered to a market for attention‚ acquisition‚ use or consumption that might satisfy a need or want. Product decision normally base on brand name‚ functionality‚ styling‚ quality‚ safety‚ packaging‚ repairs and support‚ warranty‚ accessories and services. These product attributes can be manipulated depending on what the target market wants. Also‚ customers always look for new and improved things‚ which is
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Running head: PRODUCT & PRODUCT MARKETING Rochelle Russell Unit 2 Individual Product Products & Product Marketing MGMT422-1103A-09 Triangle Solutions Product There are several people that love to take pictures of their families or special events and put them in scrapbooks. The new product that I am proposing is a photo paper that already has a background scene on it and individuals can still print their picture on top of it to make it look even more special. Mostly everyone
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candidate is expected to take to answer 36 60 minutes 24 36 minutes 30 50 minutes 10 15 minutes Weightage by content Unit No 1 2 3 4 6 7 8 9 10 3. 6 6 10 10 Mark Unit Sub-Units Introduction Consumer Equilibrium and Demand Producer Behaviour and Supply Forms of Market and Price determination National income and related aggregates Money and Banking Determination of Income and employment Government Budget and the economy Balance of Payment Total Marks 4 18
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Abstract Acetaldehyde is produced throughout the world primarily from ethylene‚ although some is still derived from ethanol and acetylene. Demand for acetaldehyde worldwide has continued to decrease primarily as a result of less consumption for acetic acid manufacture‚ as the industry continues to move toward the more efficient and lower-overall-cost carbonylation-of-methanol process. For example‚ all manufacture of acetic acid from acetaldehyde in North America has been discontinued and in
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returned because a policy of insurance is a contract of indemnity. Second if the insurer does not run the risk‚ the consideration for which the premium or money was put into his hand‚ fails‚ and therefore he ought to return it. Another rule is that if the risk of the contract of indemnity has once commenced‚ there shall be no apportionment or return of the premium afterwards. 2. Explain difference of insurance and wages ? (6/10) Answer : Insurance contract are : ❖ The
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THE ROLE OF INSURANCE IN SOCIETY. ( 5 Pages) You will all appreciate that the subject of this talk is so wide so I will make a brief summary of some of the main salient points that personally strike me as important. For those listening who are not so well versed in insurance I hope that this will open your eyes to our industry and for my colleagues who have been practicing our profession for many years please consider it as an “ aide memoire “. As our lives progress
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INSURANCE AND RISK MANAGEMENT SOLUTIONS TO STUDY QUESTIONS CHAPTER 1: Nature of risk and its management 1. Explain the meaning of risk. In your explanation‚ state the relationship between risk and uncertainty. Risk is defined as a condition where there is the possibility of an adverse deviation from an expected outcome. That is‚ there is the possibility of loss. Risk is a state of the real world in which a possibility of loss exists‚ while uncertainty is a state of mind characterised
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GROWTH OF MOTOR INSURANCE Vehicle first appeared on the roads in United Kingdom (UK) during 1880’s‚ but the first motor insurance is issued during 1890’s. Therefore it is almost 10 years time people use a motor vehicle as a mode of transportation without insurance coverage. Therefore‚ through their (insurer) experiences on other classes of insurance such as fire‚ theft & liability‚ they introduce the motor insurance towards the use of transportation. Then they emphasis it (motor insurance) on the subject
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Fire Insurance | | | | Fire insurance is a contract under which the insurer in return for a consideration (premium) agrees to indemnify the insured for the financial loss which the latter may suffer due to destruction of or damage to property or goods‚ caused by fire‚ during a specified period. The contract specifies the maximum amount‚ agreed to by the parties at the time of the contract‚ which the insured can claim in case of loss. This amount is not‚ however‚ the measure of the loss. The
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