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SS2: COMMERCE - 2ND TERM

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  1. Marine Insurance | Week 1
    3 Topics
  2. Non-insurable Risks | Week 2
    4 Topics
  3. Banking - Central Bank of Nigeria | Week 3
    3 Topics
    |
    2 Quizzes
  4. Types of Account | Week 4
    4 Topics
    |
    2 Quizzes
  5. Warehousing | Week 5
    1 Topic
    |
    1 Quiz
  6. Capital | Week 6
    2 Topics
    |
    1 Quiz
  7. Credit | Week 7
    3 Topics
    |
    3 Quizzes
  8. Profit | Week 8
    2 Topics
  9. Turnover | Week 9
    3 Topics
    |
    2 Quizzes
  10. Business Law | Week 10
    8 Topics



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These are risks which cannot be insured because they cannot be calculated due to insufficient information available to the insurer. The probability of this risk cannot be calculated which makes it impossible to be insured against. The risks cannot be forecast and measured

Features of Non-Insurance Risks

  1. Impossible to estimate the loss.
  2. There is no information about previous occurrence
  3. It cannot be insured against.

Examples of these risks are;

  1. Change in fashion
  2. An event is inevitable (such as a terminally-ill person’s death)
  3. Change in taste
  4. Mail-administration
  5. Gambling
  6. Changes in demand
  7. Speculation
  8. Acts of god e.g earthquake
  9. War
  10. Marketing of new product
  11. Loss of profit through competition
  12. Obsolescence of products as a result of technological advancement.

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