Insurance

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Across
  1. 3. This is the financial payment - what a person will receive if they suffer a loss
  2. 7. Where the same risk is insured with more than one insurer, they will divide the cost of the claim between them.
  3. 8. This is financial protection against a loss that might occur in the future. It will pace the insured person back in the same financial position they were in before they suffered the loss.
Down
  1. 1. You must answer all questions truthfully and reveal all relevant information when completing a proposal form or claim form.
  2. 2. This is when a policyholder doesn't make a claim on their insurance the insurance company will give them a discount on their premium. It is a reward for not making a claim
  3. 4. This is the fee or money that people pay to insurance companies for insurance
  4. 5. Once an insurance company has paid compensation for any insured item, the right of ownership of that item passes to the insurance company
  5. 6. To insure something you must benefit from its existence and suffer (financially) from its loss.