There are three types of services: Business Services, Social Services and Personal Services. Which of the services in your opinion are of utmost importance and why?
In my opinion, these services are complementary to each other and hence, they have their own importance. I can't say that tourism or recreation (Personal Service) is less important than services of a charitable hospitals (Social Service) or vice-versa. Similarly I can't say that banking (Business Service) is less important than services of restaurants (Personal Service) or vice-versa. Still if I have to choose one, I will select social services because:
There are three types of services: Business Services, Social Services and Personal Services. Which of the services in your opinion are of utmost importance and why?
A person took an insurance policy and did not disclose that he is a patient of cancer. Which value is missing in this case?
A person gets his stock of goods insured, but he hides the fact that the electricity board has issued him statutory warning letter to get his factory's wiring changed later on, the factory catches fire due to short circuit. Can he claim compensation? State the name of "Principle".
Manju obtained a life insurance policy of her husband. After 5 years, she divorced her husband. After one year of divorce, her husband died in a car accident. Can she claim the amount of policy from the insurance company?
Anju has taken a loan from Avi against the security of his factory. Can Avi take a fire insurance policy of that factory?
Describe various types of insurance and exercise the nature of risks protected by each type of insurance.