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
A: The key classes of business written in the London market contribute around £29 billion to the UK’s gross domestic product, which accounts for net worldwide premiums of £187 billion.
A: Earned premium only B: All banked funds plus any payments received awaiting banking
Where war risks cover is purchased as part of aircraft insurance, on what basis will liability coverage for war risks apply?
D: Liability coverage for war risks will be on an aggregate basis for all aircraft insured under the policy.
C: The purpose of the policy Schedule is to personalise the policy to the individual insured.