Indicate the

correct statement.

Indicate the correct

statement

In

terms of marine insurance,

a.    

b.    

c.    

d.    

Choose the correct combination:

In terms of Business interruption insurance, the gross

profit sum insured can be calculated on the following basis:

Bonolo Insurance Company, which is headquartered in Johannesburg, South Africa, is a prominent insurance provider that offers a wide range of insurance products and services tailored to meet the diverse needs of its clientele. With a strong commitment to customer satisfaction, financial security and innovation, Bonolo Insurance has established itself as a trusted partner in the insurance industry. The company is experiencing a surge in claims related to ransomware attacks. These claims exceed its capacity to absorb the losses. Which type of reinsurance would be most suitable for transferring a portion of this specific risk to the reinsurance market?

South Africa has experienced several observable changes linked to climate change, including: an increase in the frequency of heatwaves, which leads to higher temperatures and prolonged periods of extreme heat, with implications for public health, agriculture and energy demand; changes in precipitation patterns, which result in more intense rainfall events and longer periods of drought in certain regions, posing challenges for water resource management, agriculture and ecosystem health; more intense storms and flash floods, which cause damage to infrastructure, the displacement of communities and economic losses, with urban areas particularly vulnerable due to inadequate drainage systems and rapid urbanisation; impacts on agricultural productivity through altered rainfall patterns, heat stress on crops and livestock, and increased pest and disease outbreaks, with implications for food security and rural livelihoods; and warmer temperatures and drier conditions, which increase the likelihood and severity of wildfires, particularly in the Western Cape and other fire-prone areas, posing risks to human lives, property and ecosystems. The increasing frequency and severity of extreme weather events due to climate change are putting upward pressure on non-life insurance premiums in South Africa. This trend is an example of which insurance principle?

The principle of contribution …

Mr

Mazibuko bought an expensive diamond ring for his wife for her birthday. She

only intends to wear the ring daily. The ring will be kept in a safe at their

home when she is not wearing it. In this case Mr Mazibuko would be wise to

insure the ring under the … section of his short-term policy.

Brunelda is a newly established healthcare insurance company based in Cape Town, South Africa. The company focuses on providing innovative and accessible healthcare insurance solutions to individuals and businesses across the country. With a commitment to affordability, customer centricity and quality healthcare provision, Brunelda aims to address gaps in the market and to enhance healthcare access for all South Africans. Brunelda is concerned about the potential financial impact of a catastrophic event such as a major pandemic. Which reinsurance arrangement would provide the most effective protection against high-severity, low-frequency events?

A

motorcar accident is a typical example of  … risk.