2ND TERM

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TOPIC: Insurance
REFERENCE BOOK
a. Essential commerce for S.S.S by O.A. Longe
b. Positive commerce for S.S.S by Dr. Igwe
c. Comprehensive commerce for S.S.S by Johnson Anyaele



SUBTOPIC: Re-insurance
BEHAVIOURAL OBJECTIVES: At the end of the lesson, students should be able to:
a. State the concept of re-insurance

CONTENT: Re-insurance
This is a situation whereby an insurer agrees to insure with another insurance company all or part of the risk. By upreaching large risk among many insurance companies, losses will be reduced. E.g. the insurance of a large vessel will definitely involve a very heavy claim.

EVALUATION: Explain insurance and re-insurance

ASSIGNMENT: Explain the term " surrender value"





SUBTOPIC: Underwriting
BEHVIOURAL OBJECTIVE: At the end of the lesson, student should be able to:
a. State the principle of underwriting

CONTENT: Underwriting
This is the process whereby a merchant of insurance company undertakes to cover underwrite a portion of risk or assume part of a risk. This is common in marine insurance because of the enormous cost involved. Underwriter: is a marine insurer who offers to cover, underwrite or assume portion of a risk.

EVALUATION: Explain the term underwriting

ASSIGNMENT: Give examples of an insurance underwriter





SUBTOPIC: Importance of Insurance
BEHAVIOURL OBJECTIVE: At the end of the lesson, students should be able to:
a. State the importance of insurance to a businessman

CONTENT: Importance of Insurance
a. It facilitates international trade
b. It offers investment opportunities
c. It reduces risk
d. It provides a means of savings

EVALUATION: Give five(5) importance of insurance to a businessman

ASSIGNMENT: State five reasons for taking up life assurance.

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