Insurance

1. It refers to a method of spreading losses among a large number of people who contribute to a common pool.
7. A ___________ acts as an intermediary between insurance companies and people wanting insurance covers.
9. It is an extension of indemnity.
10. The _____________ principle states that a person should be compensated for a loss.
11. A _________ form is used to request payment for compensation under the terms and conditions of a policy.
12. _____________ of risks describes the principle of the fortunate, who pay premiums, helping the unfortunate.
14. It is a payment for insurance cover.
15. A _____________________ insurance is an insurance cover for the loss of a business's profits that is affected due to an untoward event.
16. A ____________ form is an application form for insurance.

2. It is when a person is in a position to claim for a loss for the same risk from more than one insurance company.
3. An ___________ is a person who analyses data to forecast the rate of future claims for a given risk by applying mathematical techniques.
4. It relates to underinsurance and prevents the insured person from making a profit from a loss.
5. An insurance ____________ is the formal contract for insurance.
6. ______________ insurance refers to legal claims made against the insured because the latter has been negligent.
8. A ________ note is a document issued while the insurance policy is being prepared.
13. An _____________ cause is a statement that shows what is excluded in an insurance policy.