Lessons

YHWH HAMASCHIAC School, First / Christmas Term SS3 Insurance, Lesson 1, Reinsurance.

Author: Adaokwu Ihenacho Emenike

    Reinsurance What Is Reinsurance? Reinsurance¬†is also known as insurance for insurers or stop-loss insurance. Reinsurance is the practice whereby insurers transfer portions of their risk portfolios to other parties by some form of agreement to reduce the likelihood of paying a large obligation resulting from an¬†insurance claim. The party that diversifies its insurance ….  Read More

YHWH HAMASCHIAC School, First/Christmas Term SS3 Insurance, Lesson 2. Reinsurance: Functions and Uses. 2021/2022 Session.

Author: Adaokwu Ihenacho Emenike

      ¬† ¬† ¬† ¬†Reinsurance: Functions and Uses.         You may already be aware that some insurance companies buy insurance policies of their own, a process known as¬†reinsurance. But why would an insurance company seek to insure other insurance companies in the first place? The reasons are the major functions ….  Read More

YHWH HAMASCHIAC School, First/Christmas Term SS3 Insurance, Lesson 3. Insurance Renewals. 2021/2022 Session.

Author: Adaokwu Ihenacho Emenike

  ¬†Insurance Renewals     Definition: insurance renewal is the end of the effective period of an insurance policy, at which time the insurance provider may change the premiums charged to the insured before a new policy period begins. Louise received a notice from her insurance company stating that her¬†insurance renewal¬†was coming up next month, ….  Read More

YHWH HAMASCHIAC School, SS3 First/Christmas Term Insurance, Lesson 5. Application of Insurable Interest in Life Assurance. 2021/2022.

Author: Adaokwu Ihenacho Emenike

    ¬†Application of Insurable Interest in Life Assurance.   Four features of an insurable interest   Presence of property rights or interest Potential insurable risk must be present The property must have monetary value The insurable risk must be legal There must be the possibility of suffering financial loss in case of a risk ….  Read More

YHWH YESHUA HAMASCHIAC School, SS3 First/ YHWH YESHUA HAMASCHIAC’S DAY (Christmas) Term Insurance, Lesson 6. Aviation Insurance: Liability Arising from Aircraft Operation, aka Aviation Liability Insurance. 2021/2022.

Author: Adaokwu Ihenacho Emenike

    Aviation Insurance: Liability Arising from Aircraft Operation, aka Aviation Liability Insurance.     What is Aviation Liability Insurance?   Aviation insurance generally is insurance coverage available to cover the operation of aircraft, including drones, and the risks involved in aviation. Aviation liability insurance¬†insures the owner of an aircraft against losses¬†caused by having to ….  Read More

YHWH YESHUA HAMASCHIAC School, SS3 Second/ Resurrection Day (Easter) Term,Insurance. Insurance Premium, Lesson 1. 2021/2022.

Author: Adaokwu Ihenacho Emenike

    Insurance Premium           (4)¬†Insurance Premium i. Meaning ii. Factors to be considered when determining a premium iii. Factors responsible for loading premium iv. Return premium ‚Äst¬†¬†¬†¬†¬†¬†¬†¬† Partial and full return ‚Äst¬†¬†¬†¬†¬†¬†¬†¬† Reasons for returning premium             Insurance Premium What Is an Insurance Premium?   ….  Read More

YHWH YESHUA HAMASCHIAC School, SS3 Second/ Resurrection Day (Easter) Term, Insurance, Lesson 2. Insurance: Factors on Premium . 2021/2022.

Length: 0 minutesAuthor: Adaokwu Ihenacho Emenike

    ¬† ¬†Factors on Premium:¬† Focus on Health Insurance.   It may come as a surprise to open your health insurance bill only to find out that the renewal premium has increased. Unfortunately, increasing premium costs are for real, but one cannot ignore the fact that health insurance is a requirement even if it ….  Read More

YHWH YESHUA HAMASCHIAC School, SS3 Second/ Resurrection Day (Easter) Term, Insurance, Lesson 3. Fire Insurance -Introduction. 2021/2022.

Length: 0 minutesAuthor: Adaokwu Ihenacho Emenike

  ¬†Fire Insurance -Introduction.     Fire insurance is a type of property coverage that pays for damages and other losses that you may suffer from a fire. It covers the cost of repairing or replacing damaged property in your home, as well as costs of living if you have to move out while your ….  Read More

YHWH YESHUA HAMASCHIAC School, SS3 Second/ Resurrection Day (Easter) Term, Insurance, Lesson 4. Fire Insurance -.Building and it’s Contents (Residential Building) 2021/2022.

Length: 0 minutesAuthor: Adaokwu Ihenacho Emenike

        What does fire insurance for residential buildings cover? Household insurance comes in many forms with varying coverages, terms and conditions. Fire insurance is one of the more basic protections available to an owner of a property, covering the building and/or its contents.   Homeowners insurance¬†(also known as¬†home insurance) isn’t a luxury; ….  Read More

YHWH YESHUA HAMASCHIAC School, SS3 Resurrection Day/Second Term, Insurance CA Test 2- Assignment. 2021.

Length: 0 minutesAuthor: Adaokwu Ihenacho Emenike

    SS3 Insurance CA Test 2- Assignment.       Questions below are culled from WAEC School sites WAEC 2018 Section A. A document issued by an insurer giving temporary protection to the insure is? A.¬†endorsement B.¬†certificate C.¬†proposal form D.¬†cover note Section B ¬†Answer and discuss or explain your answers 2¬†¬† The financial interest ….  Read More

HA’YHWH YESHUA HAMASCHIAC School, Third/ Summer Term SS3 Insurance. WAEC,NECO Revision, Lesson 1. Principles of Insurance. 2021/2022.

Length: 0 minutesAuthor: Adaokwu Ihenacho Emenike

      ¬† ¬† ¬† What is Insurance? Represented in a form of policy, Insurance is a contract in which the individual or an entity gets the financial protection, in other words, reimbursement from the insurance company for the damage (big or small) caused to their property. The insurer and the insured enter a ….  Read More