Task 2 For Midterm exam Group: Full name

Task 2
For Midterm exam

Group: _________________________________________________
Full name: ______________________________________________
Rules:

• 
  No plagiarism
  
• 
  No copy from your friends
  
• 
  Only with your own words
  

Mark: 25%

Question 1: Basic principles and concepts of risk management
Risk management is evaluated by underwriter before signing insurance contract. Underwriter is chosen by insurance company. Insurance company's portfolio is made by underwriter.
Firstly client comes to insurance company to inform that he is going to insure his risk. Underwriter:
checks the documents and evaluate the risk rate,
respectively calculate the amount of premium and indemnity,
find out that is it good to acces
Look on period, conditions and amount of indemnity.
The evaluation of risk may be standard, average or lower than average.

Question 2: Defenition of insurance terms and their grouping
Insurer is the insurance company. Insurer must have license given by insurance market development agency to insure clients. Premium is the amount of money that clients pay to insurance company to become an insured from risk. If the risk happens in the period that is shown in insurance contract, the insurance company pays indemnity to insured. The more premium, the more indemnity. Anyway underwriter says the last word for amounts of premium and indemnity by evaluating risks and conditions.
Question 3: The legal basis of insurance

Question 4: Insurance relations and their regulatory mechanism

Question 5: Licensing for insurance companies

Question 6: Tariff policy in insurance

Question 7: Insurance fields and their interpretation

Question 8: Auto responsibility insurance