CII IF8 Practice Questions - CII IF8 Packaged Commercial Insurances Exam

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A package policy is often designed around a particular trade, such as 'shops' or 'offices'. What is the main advantage of this approach for the insurer?

It guarantees that no claims will arise from that trade It allows covers, limits and rating to be tailored to the typical risks of that trade It removes the insurer's obligation to comply with FCA rules It means the policy never needs renewing

Correct Answer:

It allows covers, limits and rating to be tailored to the typical risks of that trade

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