TAILIEUCHUNG - Lecture Risk management and insurance - Lecture No 12: Insurance company operations

In this chapter, the learning objectives are: Principle of Utmost Good Faith, Representations, Warranties, Concealments, Requisites of Insurable Risks, large number of similar objects, accidental and unintentional loss, determinable and measurable loss,. | Insurance Company Operations Lecture No. 12 1 2 Principle of Utmost Good Faith A higher standard of honesty is imposed on parties to an insurance agreement than is imposed through ordinary commercial contracts Casts a very different light on the interpretation of insurance agreements than many persons often suppose 3 Representations Statements made by an applicant for insurance before the policy is issued Usually embodied in a written application If the representation is relied on by the insurer in entering into the contract and if it proves to have been false at the time it was made or becomes false before the contract is signed There exists legal grounds for the insurer to avoid the contract Avoiding the contract does not follow unless the misrepresentation is material to the risk If the truth had been known, the contract either would not have been issued or would have been issued on different terms If the misrepresentation is inconsequential, its falsity will not affect the .

• Tài chính doanh nghiệp
• Risk management
• Lecture Risk management
• Financial institutions
• Classification of risk
• Insurance company operations
• Benefits of risk management
• Risk management process
• Valuation and Risk Models book 4
• Financial Risk Management
• Risk Management Lecture
• Foundations of Risk Management
• Risk defining risk
• Financial Markets and Products
• Valuation and Risk Models
• Financial Risk Management FRM book 1
• Enterprise risk management
• Insurance market dynamics
• Financial risk manager
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• Market risk management
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• Integrated risk management
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• Probability distribution
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• financial and regulatory contexts
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• Project management
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