Rsk3701 Assignment Of Benefits

RSK3701/201 3 Question 2: Correct option 2 Refer to page 68 in the Unisa study guide. Under the special condition of average, a 75% condition of average is applied. In terms of this special condition, the insured will only share in the loss if the insured sum is less than the stated percentage (i.e. 75%) of the value of the asset at the time of the loss. If the sum insured is 75% or more, the insured will be considered fully insured and the whole amount of the loss will be paid by the insurer. If the sum insured is less that 75% of the value of the asset at the time of the loss, average will be applied and the insured will pay a pro rata percentage of the loss. In the case stated in the question, the farmer insured his crop for R100 000. The value of the crop was R150 000 at the time of the loss. A loss of R50 000 was sustained. The sum insured amounts to 66,67% of the value of the crop at the time of the loss. The insurer is thus liable for 66,67% of the value of the loss while the farmer is liable for the remainder of the loss. Calculations: 100 000/150 000 x 100 = 66,67% The insurer will be liable for: 66,67/100 x R50 000 = R33 333,33 The insured will be liable for: 33,33/100 x R50 000 = R16 666,67 Question 3: Correct option 2 Refer to chapter 2 in the prescribed book and pages 25 and 26 in the Unisa study guide.

 

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CONTENTS

Page

1

INTRODUCTION ............................................................................................................................ 3

2

PURPOSE OF AND OUTCOMES FOR THE MODULE ............................................................... 3

2.1

Purpose .......................................................................................................................................... 3

2.2

Outcomes ....................................................................................................................................... 3

3

LECTURER(S) AND CONTACT DETAILS .................................................................................... 3

3.1

Lecturer(s) ...................................................................................................................................... 3

3.2

Department ..................................................................................................................................... 3

3.3

University ........................................................................................................................................ 4

4

MODULE-RELATED RESOURCES .............................................................................................. 4

4.1

Prescribed books ............................................................................................................................ 4

4.2

Joining myUnisa ............................................................................................................................. 5

4.3 Other resources - Printed support materials……………………………………………………

5

5

ASSESSMENT ............................................................................................................................... 6

5.1

 Assessment plan ............................................................................................................................ 6

5.2

Unique assignment numbers .......................................................................................................... 7

5.3

Due dates for assignments ............................................................................................................. 7

5.4

Submission of assignments ............................................................................................................ 75.5 Feedback on assignments………………………………………………………………………………. 8

6

EXAMINATION ............................................................................................................................... 8

7

CONCLUSION ................................................................................................................................ 9

ANNEXURE A: ASSIGNMENTS FOR 2014

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