Short notes on Theft insurance.

Solutions

Expert Solution

Insurance is a financial product where in one party (the insurer) insures the other party( the insured ) for any unforeseen losses or risks. A theft insurance is a part of insurance wherein the insurer agrees to insure goods against burglaries and all possible acts of stealing. It includes for goods in a residential or a commercial premises. Usually acts of violent or forceful theft are covered in this insurance.

jeff jeffy answered 1 year ago

Next > < Previous

Related Solutions

An insurance company provides theft insurance for a set ofdiamond jewellery. In the event of...

An insurance company provides theft insurance for a set of diamond jewellery. In the event of theft, the policy pays $ 10 million. Theft for this kind of jewellery happens only very rarely, with a chance of 0.01%. How much (in terms of insurance premium) would the insurance company charge its client, in order to break even on average?

Short explanatory notes on decalcification provess.

An insurance company would like to offer theft insurance for renters. The policy would pay the...

An insurance company would like to offer theft insurance for renters. The policy would pay the full replacement value of any items that were stolen from the apartment. Some apartments have security alarms installed. Such systems detect a break-in and ring an alarm within the apartment. The insurance company estimates that the probability of a theft in a year is 0.05 if there is no security system and 0.01 if there is a security system (there cannot be more than...

An insurance company would like to offer theft insurance for renters. The policy would pay the...

An insurance company would like to offer theft insurance for renters. The policy would pay the full replacement value of any items that were stolen from the apartment. Some apartments have security alarms installed. Such systems detect a break-in and ring an alarm within the apartment. The insurance company estimates that the probability of a theft in a year is 0.07 if there is no security system and 0.02 if there is a security system (there cannot be more than...

Write short notes (aided by diagrams) on the following:

Write short notes (aided by diagrams) on the following: i) The effect of hybridization on bond lengths ii) Naphthalene as an environmental pollutant iii) The stability of the benzene ring

Q1. Write notes on electric field. Q2. Write short notes electric field.

The annual premium for a $5000 insurance policy against the theft of a painting is $150....

The annual premium for a $5000 insurance policy against the theft of a painting is $150. If the (empirical) probability that the painting will be stolen during the year is .01, what is your expected return from the insurance company if you take out this insurance and repeat problem from the point of view of the insurance company.

Write short notes on WTO and Trade Barriers.(10mks)

An insurance company will insure a $50,000 diamond for its full value against theft at a...

An insurance company will insure a $50,000 diamond for its full value against theft at a premium of $400 year. Suppose that the probability that the diamond will be stolen is .05, and let x denote the insurance company's profit. Set up the probability of the random variable x. Calculate the insurance company's expected profit. Find the premium that the insurance company should charge if it wants its expected profit to be $1000.00. Plz show me the each step. I...

3. Write short notes on : Historical review of Micro-Economics

1. Write short notes on :Historical review of Micro Economics

Subjects