Risk - Insurance - insurance in european perspective

9 important questions on Risk - Insurance - insurance in european perspective

How is insurance on european level organised?

Eu directives & national law
-> focus on customer protection and information transparacy
  • investment fund required

What are the 2 types of damage claims?

  1. Structural claims : normal
  2. calamity risks: huge disaster, difficult to quantify ( more than 1 insurance needed to cover losses)

What is a coinsurance?

Several insurers with each
single contract
single premium
single period
-> for entire risk

  • each participating insurance pays a % of total    

---> objective: diversify the risk
  • Higher grades + faster learning
  • Never study anything twice
  • 100% sure, 100% understanding
Discover Study Smart

What is a reinsurance?

Insurers insurance (cession)
100% or partial risk transfer
proportional (x%) or disproportional ( exemption)

results:
  1. transfer risk
  2. make extra profit
  3. free up capital
  4. free up capacity for new customers


---> objective: transfer risk

What is a business interruption policy?

This is an insuance that covers losses and costs as result of unability to use machines, computers, building etcetera = turnover loss

Of which 2 insurance policies is cyber policy a combination?

  1. Liability insurance and object insurance

this is an insurance that cover cyber hacking, ICT repairs etcetera

What is guaranteed income policy:

When an entrepreneur does not have any income due to losses or cetera he gets an amount of money to live

--> not cheap

What is a liability insurance:

Company bears liability to damage doen to third parties

Liability for entrusted objects:

??

The question on the page originate from the summary of the following study material:

  • A unique study and practice tool
  • Never study anything twice again
  • Get the grades you hope for
  • 100% sure, 100% understanding
Remember faster, study better. Scientifically proven.
Trustpilot Logo