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Insurance commission
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Insurance commission

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Published in: Business, Economy & Finance

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Transcript

  • 1. The Insurance Commission
  • 2. Mission Vision Mandate Objectives Brief History
  • 3. Organizational Structure
  • 4. What is the role of the Insurance Commission? Terms: – Insurance – Insurer – Insured or policy holder – Premium
  • 5. Types of Insurance • Casualty • Life • Auto / Vehicle – Property Coverage – Liability Coverage – Medical Coverage
  • 6. • Property – Fire – Home – Crop – Earthquake – Fidelity Bond – Flood – Marine & Marine cargo – Surety Bond
  • 7. • Health • Disability • Burial • Liability • Credit – Mortgage – Trade Credit
  • 8. What is reinsurance?
  • 9. Frequently asked questions Who may be insured? What may be an insurable interest in life insurance consist of? What are two essential policy conditions which if violated will void the entire policy? May the insurance company cancel a policy? If so, how? May the insured cancel a policy?
  • 10. Once a property is insured, must the insured inform the company of any change of the description, occupation or construction of the property insured? What is the basis of the value of the insured property at the time loss? What is Compulsory Motor Vehicle Liability Insurance? What do you understand by the “no fault claim”?