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Principles of evolution theory are;Environmental mutationNatural selectionIsolationAdaptation
Principles of the Arusha declaration of 1967 include;Self-relianceNationalization of main means of production.Ujamaa/socialism policyHuman equality/non-discrimination
Principles of co-operatives include;open an voluntary membershiplimited interest on share capitaldemocratic administrationdividend repaymenteducation to membersco-operation with other co-operativeshave a common bond
Roles played by insurance industry in promoting the development of Kenyan economy are;Employment creation insurance companies provided employment opportunities either directly or indirectly to individuals who would otherwise be unemployed.Insurance companies create confidence for the investors who are able to invest in risky but profitable areas in that they are assured of compensation in case of a loss.Insurance companies provide revenue for the government through profits realized and salaries for the employees when taxed.The business is continuous even with the occurrence of the risk because the insured is compensated. Thus business people conventure even in risky ventures.The amount contributed in the insurance company can be used as a security for a loanSome policies in life insurance encourages savings. The amount contribute is owners savings. This money can be invested later once the policies matures.
Conditions that insurance contract must meet in order to be legally valid are;When it is for a legal purposeIf the term and conditions are accepted by both the insured and insurerIncase there is a payment and a considerationWhere the parties have legal capacity to contract