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.
4B: Future loss of earnings is an award made to compensate claimants for the loss of earnings they are likely to sustain going forward after the date of settlement, as a result of their injury. Therefore, the date they start to accrue is the date of settlement or trial date.
B: A spread bet is a form of contract for difference.
A claim is submitted from a third party for loss of profits and you will need to calculate the reduction in profits. This is done by comparing the profit in the period of loss with which of these?
A: With the profit achieved three months after the business has re-opened B: With the profit achieved once the business has re-opened C: With the profit in the same period immediately prior to the incident D: With the profit in the same period in the previous year