EXAM Flashcards
1
Q
No claims bonus
A
In car insurance you get a discount if you do not claim for any actions the previous year
It encourages people to not claim for small amounts
2
Q
Premium
A
The cost of insurance
The higher the risk the higher the premium
3
Q
Loading
A
Extra premium for higher risk
4
Q
marketing competition
A
the rivalry between existing companies, services or products that exists within a specific market.
