Get premium membership and access questions with answers, video lessons as well as revision papers.

Under what circumstances would an insurance company refuse to compensate an insured person?

      

Give circumstances under which an insurance company would refuse to compensate an insured person.

  

Answers


Maurice
(i) If the insured has no insurable interest in the subject matter.

(ii) If the insured did not act in 'utmost good faith' when he got insured.

(iii) Where the policy was not in force.

(iv) If the insured person cannot prove that he or she has suffered a direct financial loss.

(v) If the insured suffers a risk that he or she has not insured.


maurice.mutuku answered the question on August 16, 2017 at 05:58


Next: What challenges may be experienced by a new entrepreneur who is intending to start a business in Kenya?
Previous: What measures can be taken to improve parastatals' efficiency in Kenya?

View More Business Studies Questions and Answers | Return to Questions Index


Learn High School English on YouTube

Related Questions