This was a good question and those performance of candidates were impressive. However, there were some difficulties with the explanation of some of the insurance principle. The explanations expected include:
(I) Proximate Causes: This is an Insurance principle that allows an insured to be compensated only when the event insured against happened as a direct cause and not from other risks not insured against.
(II) Contract of Non-Indemnity: A contract of non-indemnity is a contract of insurance where the insurer can only pay something based on prior agreement because the loss cannot be replaced. It is not possible to give back life, as a result,
money will be paid to the assured family.