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Anonymous
ZENA SALIM
ZENA SALIM
ZENA SALIM
Anonymous
Akili Mingi owns a house at Uswaziin Katavivalued at TSh. 20 million. He insured it against fire with Linda Mali Insurance Co. Ltd and Pokea Insurance Co. Ltd for TSh. 15 million and TSh. 10 million ?
Akili Mingi owns a house at Uswaziin Katavivalued at TSh. 20 million. He insured it against fire with Linda Mali Insurance Co. Ltd and Pokea Insurance Co. Ltd for TSh. 15 million and TSh. 10 million respectively. He also insured his household goods against burglary with Lipa Insurance Co. Ltd. for TSh. 5 million. One month before the expire of premium Linda Mali Insurance Co. Ltd wants to remaind Akili Mingi to repay his insurance against his house. Advise accordingly Linda Mali Insurance Co. Ltd on which type of negotiable instrument may use to remind Akili Mingi?
Anonymous
Insurance and banking?
Moreki takes out a policy with Candy Insurance Co. insuring his car against theft. To be sure that he has full cover, he takes out another policy with Asset Insurers, but this time he takes up comprehensive motor insurance. The sum insured under each policy is M20, 000.00. The car gets stolen and the total loss is calculated in the sum ofM20, 000.00, Moreki claims payment of his full loss under each policy. Explain the following: (a) Is Moreki entitled to recover M20, 000.00 under each policy? If not, what amount can he recover from each insurer? 5 Marks (b) If either insurer pays Moreki M20, 000.00, does that insurer have any right of recourse? 5 Marks (c) If Moreki only took out a policy with Candy Insurance Co., and the car gets damaged in an accident resulting in the cost of repairs being M25, 000.00, what is the amount that he is entitled to? 5 Marks (d)lf the sum insured was M15, 000.00 and the actual value of the car was M30, 000.00, how much would Moreki be entitled to under each policy and why?
