Question

Explain the types of risks which are covered by (i) Motor Vehicles insurance; (ii) Fidelity insurance

Answer 1

Explanation:

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Answer 2

Answer:

(i) Motor insurance

Motor insurance provides financial protection against any physical damage of the vehicle or the person from traffic accidents. It also gives financial assistance in case of theft of the vehicle or damage of the vehicle from collision and natural disasters.

(ii) Fidelity insurance

Fidelity insurance provides financial protection to the business from the losses due to the fraudulence of its employees. Fidelity insurance also protects the business from burglary, fire, and theft.