2025 WAEC INSURANCE: WAEC Insurance (insurance) 2026 Legit Answers (5739)

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WAEC Insurance (insurance) 2025 Legit Answers Password/Pin/Code: 5739.



INSURANCE OBJ:
1-10: ACBADBDDBC
11-20: DABCDAAADD
21-30: ACCABABBCA
31-40: ACCCCDAADD
41-50: ACCCCCDADA



Welcome to official 2025 Insurance WAEC answer page. We provide 2025 Insurance WAEC Questions and Answers on Essay, Theory, OBJ midnight before the exam, this is verified & correct WAEC insurance Expo. WAEC Insurance Questions and Answers 2025. WAEC insurance Expo for Theory & Objective (OBJ) PDF: verified & correct expo Solved Solutions, WAEC Insurance (insurance) 2026 Legit Answers. 2025 WAEC EXAM Insurance Questions and Answers

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(1a)

(i) Employees: The company is liable for medical expenses, injury compensation, and possible disability benefits due to the injuries sustained by employees during the fire incident.


(ii) Customers: The company is liable to compensate customers for lost or damaged materials and unfinished jobs caused by the fire outbreak.


(1b)

(i) Fire Insurance: This policy provides financial protection against loss or damage caused by fire. It would have covered the factory building, machinery, and materials destroyed in the fire incident.


(ii) Employers’ Liability Insurance:

This insurance covers the company’s legal responsibility to employees injured in the course of work. It pays for their medical treatment, compensation, and related legal expenses.


(1c)

(PICK ANY TWO)

(i) The company should install fire extinguishers, fire alarms, and smoke detectors.

(ii) The workers should be trained on how to prevent and control fire.

(iii) The company should check and maintain all equipment regularly.

(iv) The company should buy insurance policies like fire and liability insurance.


This is WAEC Insurance (insurance) 2026 Legit Answers No. 1

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(3a)

The principle of subrogation allows the insurer to assume the legal rights of the insured after compensation has been paid for a loss. This means that the insurer can recover the amount paid from a third party who caused the loss. 


(3b)

(PICK ANY FOUR)

(i) Third-party recovery: When a third party causes the loss, the insurer can recover the claim amount from them after compensating the insured.

(ii) Salvage rights: After paying for damaged property, the insurer can take possession of the remains and sell them to recover part of the loss.

(iii) Breach of contract: If the insured’s loss was due to another party’s breach of contract, the insurer may pursue legal action against that party.

(iv) Double insurance: If more than one insurer covers the same risk, the insurer that paid can recover a portion from the other insurers.

(v) Negligence: If someone else’s carelessness caused the loss, the insurer can claim from that person after paying the insured.

(vi) Tenant’s liability: If a tenant damages rented property, the landlord’s insurer can recover from the tenant after settling the claim.

(vii) Defective product: If a faulty product caused the damage, the insurer can sue the manufacturer or supplier after paying the insured.


This is WAEC Insurance (insurance) 2026 Legit Answers No. 3

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(4a)

A policy is a written contract or document issued by an insurance company to the insured. It contains the terms, conditions, benefits, premiums, and coverage details of the insurance agreement. It serves as legal evidence of the insurance contract between the insurer and the insured.


(4bi)

The principle is Insurable Interest: This principle states that the proposer of the insurance must have a legal, emotional, or financial interest in the continued life, safety, or well-being of the person or item insured. In this case, Uche Femi has an insurable interest in his wife, Uche Bimpe, since her death or injury would cause him financial and emotional loss. This qualifies him to legally insure her life.


(4bii)

(PICK ANY FOUR)

(i) The insured must benefit financially from the continued existence of the life insured.

(ii) The interest must be legal and recognized by law.

(iii) It must exist at the time the insurance contract is initiated.

(iv) It usually arises from close relationships such as marriage, blood, or financial dependency.

(v) It prevents people from taking out policies on strangers or for speculative purposes.

(vi) It forms the basis of a valid and enforceable insurance contract.

(vii) Without insurable interest, the policy is considered null and void in the eyes of the law.


This is WAEC Insurance (insurance) 2026 Legit Answers No. 4

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(5ai)

=Fire insurance=

(PICK ANY THREE)

(i) Residential buildings

(ii) Office equipment

(iii) Stock-in-trade

(iv) Machinery and tools

(v) Furnishings and fittings

(vi) Documents and records


(5aii)

=Marine insurance=

(PICK ANY THREE)

(i) Cargo

(ii) Hull

(iii) Freight

(iv) Crew personal effects

(v) Third-party liabilities

(vi) War and strike risks


(5b) 

(PICK ANY THREE)

(i) Third Party Only (TPO): Covers damage or injury caused to third parties, their vehicles or property. It does not cover the insured's own vehicle.

(ii) Third Party, Fire and Theft (TPFT): Provides TPO cover plus protection against loss or damage to the insured vehicle due to fire or theft.

(iii) Comprehensive Cover: Covers third-party liabilities, fire, theft, and accidental damage to the insured's own vehicle, regardless of who is at fault.

(iv) Personal Accident Cover: Pays compensation to the driver or passengers in case of injury or death resulting from a car accident.

(v) Medical Payments Cover: Covers medical bills for the driver and passengers involved in an accident, regardless of who caused it.

(vi) No-Claim Bonus (NCB) Protection: Allows the insured to retain their discount even after making a claim, rewarding claim-free years.


This is WAEC Insurance (insurance) 2026 Legit Answers No. 5

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(6a)
(i) Employer’s Liability Insurance: Covers the employer against legal liability for injuries sustained by employees in the course of their duties.
(ii) Passenger Liability Cover (under Motor Insurance): Protects the company from liability for injuries or death of staff while being conveyed in a company vehicle.

(6b)
(PICK ANY THREE)
(i) Medical Expense Coverage: The policy covers the cost of medical treatment, including hospital stays, surgeries, and medications for the injured staff.
(ii) Compensation for Lost Wages: If an employee is unable to work due to injuries sustained in the accident, the insurance provides income replacement during the recovery period.
(iii) Legal Cost Coverage: The policy covers legal fees and any damages awarded if the company is sued as a result of the accident.
(iv) Death Benefits: In the case of death resulting from the accident, the policy provides financial compensation to the deceased employee’s dependents.
(v) Permanent Disability Benefits: If the accident causes permanent disability, the insurance provides a lump sum or periodic payments based on the severity of the disability.
(vi) Rehabilitation and Support Services: The policy may also cover the cost of physical therapy, counseling, or vocational training needed to help the injured staff return to work.

This is WAEC Insurance (insurance) 2026 Legit Answers No. 6

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