Insurance Terms: Business Bingo and Definitions
B
USINESS
B
INGO
Insurance
By: debshoganteaching
Draw a Table with 9 Cells
Pick 9 terms from the Table Below
The 1
st
one to cross off all nine terms WINS!!
D
EFINITIONS
The contract for insurance
You must benefit from an items existence and
suffer by its loss
Calculates the amount of compensation due if
you have a claim
The application form to be filled out before you
get insurance
Works for one insurance company only
Works for him/herself and shops around many
companies to get the best deal
You cannot make a profit out of insurance
The person who calculates the amount of the
premium
This rule states that after compensation has been
paid, any property still remaining becomes the
property of the insurance company
The insurance company
You need to fill out this if you have an accident or
loss
The amount of the premium is based on this
You must tell the truth when filling out a
proposal form
If your house is insured with two companies and
you make a claim, you will only receive a portion
from each
The fee for insurance
Protection against possible loss
The person who pays for insurance
A
NSWERS
Policy
Insurable interest
Assessor
Proposal form
Agent
Broker
Indemnity
Actuary
Subrogation
Insurer
Claim form
Risk
Utmost good faith
Contribution
Premium
Insurance
Insured
Dive into the world of insurance with a fun Business Bingo game featuring key terms like Policy, Insurer, Premium, and more. Explore definitions such as insurable interest, indemnity, and the role of an actuary in calculating premiums. Learn about different aspects of insurance contracts and the importance of utmost good faith when filling out proposal forms. Discover the roles of agents, brokers, assessors, and insurers in the insurance industry.
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Presentation Transcript
BUSINESS BINGO Insurance By: debshoganteaching
Draw a Table with 9 Cells Pick 9 terms from the Table Below The 1stone to cross off all nine terms WINS!! Policy Insurable interest Agent Insurer Claim form Indemnity Risk Actuary Proposal form Assessor Subrogation Premium Contribution Utmost good faith Excess clause Life Assurance Insurance Broker Under Insurance Insured Comprehensive Term life assurance Whole life assurance Endowment Assurance
DEFINITIONS The contract for insurance You must benefit from an items existence and suffer by its loss Calculates the amount of compensation due if you have a claim The application form to be filled out before you get insurance Works for one insurance company only Works for him/herself and shops around many companies to get the best deal You cannot make a profit out of insurance
The person who calculates the amount of the premium This rule states that after compensation has been paid, any property still remaining becomes the property of the insurance company The insurance company You need to fill out this if you have an accident or loss
The amount of the premium is based on this You must tell the truth when filling out a proposal form If your house is insured with two companies and you make a claim, you will only receive a portion from each The fee for insurance Protection against possible loss The person who pays for insurance
ANSWERS Policy Insurable interest Assessor Proposal form Agent Broker Indemnity Actuary Subrogation Insurer
Claim form Risk Utmost good faith Contribution Premium Insurance Insured
