Question
What is the primary purpose of a "burning cost"
analysis?Solution
The correct answer is C. To estimate future claims costs based on past experience. Burning cost analysis examines past claims data to project future claim costs, helping insurers to more accurately price their products.
If a policy holder stops paying the premium after three years, but does not withdraw the money from his policy, then the policy is said to be?
The largest general insurance company in the world by revenue is:Â
The free-look period is of how many days ?
What is the Fee paid to an agent or insurance salesperson as a percentage of the policy premium?
What is the primary goal of risk management?
The General Insurance Corporation of India was incorporated as a company in which year?
A Life insurance policy for which the cost is equally distributed over the term of the premium period, remaining constant throughout is called?
What is the primary function of a reinsurer?
In relation to insurance sector, what is the full form of EP?
A person invests Rs. 100000 in an insurance policy, 40000 Rs in a PPF account. He also invests fees of his two children 40000rs each. Then how...
