C16 BUSINESS OF INSURANCE NEWEST TEST EXAM WITH 180 QUESTION AND VERIFIED ANSWERS 2024 ALREADY GRADED A+

C16 BUSINESS OF INSURANCE NEWEST TEST EXAM WITH 180 QUESTION AND VERIFIED ANSWERS 2024 ALREADY GRADED A+ Three risks that insurers will face in mature or merging market: - ANSWER • Exposures to asbestos • Large natural catastrophes • Products liability • Political risk • Corporate scandales • Environmental liability • Terrorism • Litigiousness Stock Companies - ANSWER -either privately held or publicly traded -same capital structure as any other capital enterprise -shareholders invest in corporations -stocks sold to shareholders who hope for reasonable profit on investments -security to policyholders for assumed liabilities is represented by subscribed or paid up capital and any surplus -premiums fund liabilities -policyholders contribute premiums to pay for claims -if premiums do not cover liabilities, capitol of investors funds shortfall -insurers income will pay expenses Mutual companies - ANSWER -operate for mutual benefit of their members -purpose is to insure one another against the possibility of certain types of losses -premium assessment plan or premium note plan -levies limited under plan -signs premium note identifying the limit he/she is willing to pay is company suffers set back -full premium calculated once operated experience factored in -policyholders also share profits amoungst themselves (usually in form on premium) Corporate governance - ANSWER signifies how a corporation directs itself - and how control of this process is managed -encompasses the process, structure and information used to manage a company Pyramind structure - ANSWER -traditional -industrial enterprises -vertical decision making -internally focused top-down governance