What is risk management? Generally, risk is a chance of loss, it is a phenomenon that is part of man's activities which cant be avoided easily, however, man has been looking for the possible approach to assimilate them and carry out their daily business operation. In a beat to solve this problem, the need for risk management becomes the only lasting alternative. Risk … [Read more...]
What is personal Accident and Sickness Insurance
What is Personal Accident and Sickness Insurance? The fact that man most time has zero knowledge of what is going to happen to his life the next minute of the day, goes a long way to explaining what accident and sickness insurance is all about. This goes a long way to establishing the saying that life is like a dice that can throw one to any place or situation either good or … [Read more...]
What is an insurance Dividend policy decision?
What is an insurance Dividend policy decision? Generally, an insurance dividend policy decision entails how insurance companies or firms manage their generated income after the necessary expenses have been incurred such as income after profit and tax. A dividend policy shows how an insurance firm makes decisions relating to how it can share and allocate the … [Read more...]
What is Surrender Value? Meaning and Forms of Surrender Value
What is Surrender Value? Meaning and Forms of Payment of Surrender Values? Surrender Value is the amount the policyholder will generate from the life insurance company if he decides to terminate the policy before maturity or the agreed period. It is very important to note that the premium received by the insurer is accumulated with a certain rate of interest, which forms … [Read more...]
Insurance Consumer Protection| All You need to Know.
What is Insurance Consumer Protection? Insurance consumer protection is a concept in the insurance business that states in detail, the social responsibility of producers to their prospective customers or consumers. It is an action aimed at preventing producers from destructive activities, without taking into cognizance their immediate profitability, the … [Read more...]