Which of the statements is correct? Under a fire policy A. Insurance is a transfer of risk mechanism. B. Insurance gives physical protection to assets.

Related MCQs

• Which of the statements is correct? A. Insurance is a transfer of risk mechanism. B. Insurance gives physical protection to assets.
• Which of the statements is correct? A. One of the methods of risk retention is by way of voluntary excess or deductible available under the policy. B. Another method of retention of risk is to absorb small losses as normal operating expenses of business.
• Which of the statement are true? A. Risk retention and risk transfer are some of the techniques to manage risks. B. Implementation is one of the steps in risk management
• The transit risk caused by fire is covered under ________ policy
• Fire insurance came into existence after the Great Fire of the London in ___________
• Which of the following statements is true: Under a fire policy
• _____________ Policy is granted only in respect of stocks of inventories of the insured under fire insurance business.
• Under ________ insurance, loss of profit policy is called as consequential loss policy
• The scope of protection provided under the contract of insurance is ________
• A fire policy containing an average clause is _________