Ritik Chopra
Quick Summary
A proposal is an application for an insurance cover. Every time a proposal is received, the insurer will not grant the cover at the spot. The insurer will make a decision as to the admissibility of the proposer to the pool of policyholders. This is because the insurer also act as a trustee. It has to ensure that every new policy into the pool has similar exposure to the risks as the other. This process of verifying the level of risk in each new entrant and determining the terms of admission is c
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