We read your photo as:
The most common business interruption insurance is not ... insurance.
Business/Management
ScanSolve AI Answer
Answer
A
Question: Where an insurer requires an insured to complete a proposal form or any application insurance. This is a statement of fact and is also contained in Section ... of NIIRA 2
(a) 64
(b) 65
(c) 67
(d) 69
Explanation:
The question refers to the section of the National Insurance Commission Act (NIIRA), likely the Insurance Act 2003 in Nigeria, that deals with statements of fact made in proposal forms.
- Section 64 of the Insurance Act 2003 specifically addresses "Proposal forms and statements made in connection therewith." It stipulates that statements of fact made by an insured in a proposal form or related documents form the basis of the insurance contract.
- Section 65 deals with misrepresentation and non-disclosure.
- Section 67 deals with premium receipts.
- Section 69 deals with claims notification.
Therefore, the correct section is 64.
The correct option is (a).
Was this helpful?
Try one yourself
A new problem that tests the same skill.
Still stuck on this one?
Ask a follow-up, and the answer starts from this question.
Got a different question?Ask your own question
More Business/Management Questions
QWhich of the following could cause disruptions to business continuity?QA) Five circumstances under which an insurance company would not compensate the insured in the event…QWhat about short term insurance on delivery vehicle and printer equipment?Qb. List any four types of insuranceQThe statement is: "Business impact analysis is the process of analyzing the long-term impact of a…