The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
Insurance is part of our day to day lives, whether it is home insurance, car insurance or health insurance, at some stage in their lives almost everyone will take out an insurance policy. How well do you actually understand insurance? This simple quiz, designed by Balcombes Claims Management, not only tests your knowledge, but provides some helpful information to you on a wide variety of issues relating to insurance and the insurance industry.
Insurance is a vital part of running and owning a business, and getting up-to-date with the various factors involved is important for any entrepreneur, business owner or modern worker. Discover more about the requirements for forming a valid contract, the responsibilities and obligations of the insurer and the insured and the different types of losses you, as the insured, will be indemnified for under your insurance contract.
Do you understand the principle of indemnity? Have you ever gotten to understand the nature of compensation? Do you fully understand how an insurance premium is calculated? Do you think you know everything there is to know about insurance and the process of taking out an insurance policy? Put your knowledge to the test by taking this simple quiz!