IC Paper 6 (Set A)

Posted on



6 Jan 2023

IC Paper 6 Question

Which of the following statements correctly describes Arbitration?

a) The insured pays more premiums than what is supposed to be paid.

b) The insured profits from purchasing more than one policy covering for the same indemnity.

c) The insurer admits liability for a claim, but the insured does not agree to the amount offered.

d) The rights of the insurer to take possession of the property or situation where the loss or damage has happened.