Questions

1.     What are the key characteristics of an insurable risk?

2.     How does the concept of "uncertainty" play a role in determining whether an event is insurable?

3.     What is the significance of an insurance application in the formation of an insurance contract?

4.     Explain the purpose of a temporary coverage note and how it differs from an insurance policy.

5.     What are the primary obligations of both the insured and the insurer in an insurance contract?