Ch15 Ways To Minimise Risks

Question 1

Ways to minimise risks

Answer 1

(1) install security systems(2) training (3) appoint a health and safety officer (4)health and safety (5) insurance

Question 2

Define insurance

Answer 2

Financial protection against possible loss

Question 3

Insurance terms (the forms and the documents

Answer 3

Proposal form , claim form.
Renewal notice insurance policy cover note

Question 4

Insurance terms( other terms

Answer 4

The insured, the insurer, insurance premium, policy excess , loading , no claims bonus , days of grace , average claus

Question 5

5 principles of insurance

Answer 5

1) insurable intrest (2) upmost good faith (3) indemnity (4) contribution (5) subrogation

Question 6

6step insurance summary

Answer 6

(1) contact insurance agent or broker(2)complete insurance proposal form(3)premium, calculated by actuary(4)insurance policy issued to consumer(5) insurance claim if loss occurs (6) recieve compensation

Question 7

Types of insurance household and business

Answer 7

Household health travel income protection (business Public liability, cash in transit , plate glass (middle) motor prsi propert/premises, contents

Question 8

What is prsi (pay related sociology insurance)

Answer 8

Insurance is compulsory paid by both employee and employer