.PLEASE PROVIDE SHORT BUT ACCURATE ANSWERS TO THESE QUESTIONS. THANK YOU

Q1. University of Ghana has a large Archaeology Department and therefore it has a significant number of valuable pieces of scientific equipment, which are covered under a commercial all risks insurance policy.

a. Explain the cover provided by a commercial all risks insurance policy. [5 marks]

b. List five exclusions which apply to a standard fire and Specified (Allied) perils policy. [5 marks]

c. The Archaeology Department of University of Ghana has a number of rare artifacts which are insured on an agreed value basis. State what you understand by this term and what the insurance implications are. [5 marks]

d. In respect of contents at the premises, the insured has asked if it is possible to remove the term forcible and violent entry to or exit from the premises from the theft peril. Discuss the feasibility of such a request. [5 marks]

e. The owners of Accra Mall have approached Rexton Insurance Company Limited for a Fire and Allied Perils insurance policy for the mall. As a fire insurance underwriter with Rexton Insurance Company, outline five perils which are insurable under this policy. [5 marks]