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IF1 - CORE PRINCIPLES OF INSURANCE

This class was created by Brainscape user Isabel Foley. Visit their profile to learn more about the creator.

By: Isabel Foley
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Decks in this class (8)

CONCEPT OF RISK AND TRANSFER
What is risk,
Main elements of risk,
Insurance is a means of
9  cards
RISK MANAGEMENT
What is airmic,
Who influenced publication of a r...,
What is the importance of good ri...
20  cards
COMPONENTS OF RISK
What are the 3 components of risk,
How is the level of risk assessed,
Example of
11  cards
CATEGORIES OF RISK
What are the categories of risk,
Financial risks insurable what ar...,
Example of a financial risk
15  cards
FEATURES OF INSURABLE RISKS
For a risk to be insurable what a...,
What is a fortuitous event,
Example of a non fortuitous loss
12  cards
POOLING OF RISK
What is pooling of risk,
What does the law of large number...,
What must each person contributin...
8  cards
CO-INSURANCE, DUAL INSURANCE, SELF- INSURANCE
What are the 2 ways an insurer ca...,
What 2 choices does an insurer ha...,
What is reinsurance
15  cards
REASONS FOR BUYING INSURANCE
What will an individual base thei...,
What does buying insurance provid...,
Example of insurance transferring...
9  cards

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IF1 - CORE PRINCIPLES OF INSURANCE

  • Class purpose General learning

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