A risk considered as sub standard in future can be dealt with by insurers through (i) premium loading (ii) double insurance (iii) excess imposition
A. I and II B. I and III C. II and III D. I,II and III
Correct Answer: B
Explanation
premium loading; The amount an insurer needs to cover its expenses and generate profit.
Excess imposition - Your insurer may impose a non-standard excess, because of the number of claims you have had, or other factors which may mean you are more likely to make a claim.
