i. Value of property/sum assured –Higher value/expensive property/high sum assured higher premiums are charged/low value of sum assured/cheap property low premiums charged.
ii. Age of property/Pension –Old property/older people higher premiums are charged (as is vulnerable to suffering/loss/new properties/young people are charged lower premiums.
iii. Location of property/residence of person - areas prone to danger/calamities/that are risky attract higher premiums/safer areas attract low premiums.
iv. Number of risks to be insured –(the more the risks the property faces(the need to insure against more risks) the higher the premiums (due to higher chances of losses)the fewer the risks the lower the premiums charged.
v. Period of insurance contract-longer period for contract attracts lower premiums/shorter periods are charged higher premiums.
vi. Purpose /usage of property/work of a person-the highly used property/overworked persons/risky work attract higher the premiums/property that is not heavily used/low risky work attracts low premiums.
vii. Healthy of a person/condition of property-good working property/a person with good healthy attracts lower premiums/poor health condition attracts high premiums.
viii. Government policy-taxation leads to higher premiums/subsidies lower premiums.
ix. Frequency of the occurrence of risk-higher chances of occurrence of risks attracts higher premiums/ rare chances of occurrence of risks attracts low premiums
steve williams answered the question on December 30, 2017 at 06:37
-
In spite of the advantages of large-scale operations, small scale firms continue to exist. Explain six circumstances which may justify existence of such small firms.
(Solved)
In spite of the advantages of large-scale operations, small scale firms continue to exist. Explain six circumstances which may justify existence of such small firms.
Date posted:
December 30, 2017
.
Answers (1)
-
Highlight six ways in which business studies is useful to an individual.
(Solved)
Highlight six ways in which business studies is useful to an individual.
Date posted:
December 30, 2017
.
Answers (1)
-
a. Describe five intermediaries that can be used in distributing locally produced goods.b. Discuss five reasons why indirect production is important to an economy.
(Solved)
a. Describe five intermediaries that can be used in distributing locally produced goods.
b. Discuss five reasons why indirect production is important to an economy.
Date posted:
December 30, 2017
.
Answers (1)
-
Outline circumstances under which paging, facsimile,radio call services may be used
(Solved)
Outline circumstances under which paging, facsimile,radio call services may be used.
Date posted:
December 29, 2017
.
Answers (1)
-
State four benefits that a farmer may derive from being a member of of a producer cooperative society.
(Solved)
State four benefits that a farmer may derive from being a member of of a producer cooperative society.
Date posted:
December 29, 2017
.
Answers (1)
-
Mr. Dennis intends to advertise his newly produced product and has approached you for advice. Advice him, giving him six reasons why he should advertise...
(Solved)
Mr. Dennis intends to advertise his newly produced product and has approached you for advice. Advice him, giving him six reasons why he should advertise the product through the radio rather than through newspapers.
Date posted:
December 28, 2017
.
Answers (1)
-
Outline four differences between a public limited company and a parastatal.
(Solved)
Outline four differences between a public limited company and a parastatal.
Date posted:
December 28, 2017
.
Answers (1)
-
Give five ways in which an entrepreneur contributes to production of goods.
(Solved)
Give five ways in which an entrepreneur contributes to production of goods.
Date posted:
December 28, 2017
.
Answers (1)
-
Explain four reasons for difference in terms of trade between countries.
(Solved)
Explain four reasons for difference in terms of trade between countries.
Date posted:
December 28, 2017
.
Answers (1)
-
Outline six factors that may contribute to the level of a country’s national income.
(Solved)
Outline six factors that may contribute to the level of a country’s national income.
Date posted:
December 28, 2017
.
Answers (1)
-
Highlight the disadvantages a manufacturer would suffer if the wholesalers were eliminated from the chain of distribution
(Solved)
Highlight the disadvantages a manufacturer would suffer if the wholesalers were eliminated from the chain of distribution .
Date posted:
December 27, 2017
.
Answers (1)
-
Explain five factors that may contribute to a decline in birth rate.
(Solved)
Explain five factors that may contribute to a decline in birth rate.
Date posted:
December 26, 2017
.
Answers (1)
-
A firm/organization dealing with a very popular product still finds it necessary to continue advertising the product. Give five reasons why this may be necessary....
(Solved)
A firm/organization dealing with a very popular product still finds it necessary to continue advertising the product. Give five reasons why this may be necessary.
Date posted:
December 26, 2017
.
Answers (1)
-
Explain five reasons why inflation would be undesirable in an economy.
(Solved)
Explain five reasons why inflation would be undesirable in an economy.
Date posted:
December 26, 2017
.
Answers (1)
-
Explain five attributes of a good tax system.
(Solved)
Explain five attributes of a good tax system.
Date posted:
December 26, 2017
.
Answers (1)
-
Explain five factors a manager would consider before buying office equipment for the organization.
(Solved)
Explain five factors a manager would consider before buying office equipment for the organization.
Date posted:
December 21, 2017
.
Answers (1)
-
Explain four ways in which warehousing may facilitate trade.
(Solved)
Explain four ways in which warehousing may facilitate trade.
Date posted:
December 21, 2017
.
Answers (1)
-
Highlight five factors, which may favor existence of a monopoly.
(Solved)
Highlight five factors, which may favor existence of a monopoly.
Date posted:
December 20, 2017
.
Answers (1)
-
Explain four benefits Kenya would derive from a well drawn development plan.
(Solved)
Explain four benefits Kenya would derive from a well drawn development plan.
Date posted:
December 20, 2017
.
Answers (1)
-
Describe the six qualities that a manager is expected to have in order to promote teamwork among members of his staff.
(Solved)
Describe the six qualities that a manager is expected to have in order to promote teamwork among members of his staff.
Date posted:
December 20, 2017
.
Answers (1)