a) "Insurance is a co-operative device to share the risk of losses on the basis of probability." Give arguments in favor of the statement.

b) "Insurance helps to form capital and thus in the economic development of a country." Do you agree with the statement? Justify your opinion.

c) Explain the necessity of disclosing all the terms of contracts and the material regarding the insured assets at the time of commencement of insurance.

d) "The right of the insurer to stand in the place of insured is become effective after

settlement of the claim." Explain

e) "If the stock of a businessman is fluctuating in nature, it will be better to purchase two policies". Do you agree with the statement? Justify your opinion,