The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
Assignments submitted through email will not be accepted.
Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
Students must mention question number clearly in their answer.
Late submission will NOT be accepted.
Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
All answers must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism.
Submissions without this cover page will NOT be accepted.
Assignment Questions: (Marks 15)
Q1. “The primary purpose of insurance is to provide financial protection against uncertain losses.” Comment on this statement and define the concept and purpose of insurance. Explain the broad categories of different types of insurance along with their significant features.
Note: You are required to provide examples of Saudi Companies. (5 Marks) (Week 1, Chapter 1)
Answer:
Q2. Discuss the factors that influence insurance premiums for different types of insurance. Explain the key functions involved in the Premium Transaction Flow with suitable examples. (5 Marks) (Week 2, Chapter 3)
Answer:
Q3. Explain the significance of loss reserve for an insurance company. Critically examine the various components involved in the loss reserve. Define the estimating methods used in estimating and evaluating the loss reserves with suitable examples. (5 Marks) (Week 3, Chapter 4, Part One)
Note: You are required to provide examples of Saudi Companies.
Answer:
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