1.It is recommended to do Exercise 8.12 prior to the present one. Here we look at the same population growth model N (t) = rN(t), N(0) = N0. The time….
Claims handling is an important function that brokers undertake. Using specific Kenyan illustrations and examples analyze how these functions have been undertaken by brokerage firms
a) Claims handling is an important function that brokers undertake. Using specific illustrations and examples analyze how these functions have been undertaken by brokerage firms (10 marks)
b) Point out any successes and the challenges they have encountered in the claims handling.
c) Service agreements have in the recent past been widely used by players in the insurance sector to ensure that each side understands its obligation and measurement needs. Discuss FIVE main areas that it may cover. (10 marks)
a) What is broker’s network, Describe how brokers’ network operates, Suggest ways in which such networks can be enhanced to promote insurance uptake in the country. (10 marks)
b) The law of agency imposes several requirements on the broker to perform. Discuss any FIVE such requirements. (10 marks)
a) What is TOBA? Discuss any SIX relevant information contained in TOBAs. (14 marks)
b) Discuss THREE regulatory information that a broker must provide to the client before the conclusion of a contract. (6 marks)
a) Firms and more so brokerage firms must be regulated by IRA if they are to carrying on regulated activities. Discuss FIVE such regulated activities. (10 marks)
b) IRA operates primarily on principles basis. Discuss the principles of business that are provided by IRA for the use by brokers and other industry players. (10 marks)
a) Discuss SIX factors that brokers need to consider when deciding what constitute appropriate information to the customer. (12 marks)
b) Brokers traditionally receive their incomes in form of contingent commissions or overrides. Discuss FOUR implications of such commissions and overrides to the broker. (8 marks)
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