On what basis do insurers set premium rates?
A – For each individual, based on the proportion of the loan amount to the overall cost of the vehicle
B – For groups of customers, regardless of personal details or even dangerous hobbies
C – For individual customers, based on the values of the vehicles being purchased
D – For specific groups of customers, but excluding those with high risk personal details or dangerous hobbies
B: Insurers apply premium rates to groups of customers, taking no account of their personal details or generally the extent to which they engage in dangerous activities.
B: A spread bet is a form of contract for difference.
D. In its widest sense, telematics is a term used to describe the exchange of data, potentially over long distances, across a wireless communications network in real time.
Which of these sums represents the contribution to the UK’s gross domestic product made by the key classes of business written in the London market each year?
A: £29 bn B: £10 bn C: £15 bn D: £50 bn