unenforceable as the consideration is inadequate.

enforceable as consideration does not need to be adequate.

enforceable but only if Harry does not refute the contract within six months of the contract date.

unenforceable unless Harry signs a disclaimer acknowledging the consideration as acceptable.

The full year ' s premium less a fixed nominal charge.

The full year ' s premium.

None of the premium.

A pro rata amount.

create a standard format for the presentation of accounting data.

introduce monitoring procedures by the Prudential Regulation Authority.

provide authorisation to transact insurance business.

strengthen the financial security of the insurer or intermediary.

company decides to set aside a fund to pay losses that may occur.

number of insurers agree to collectively insure a particular risk in agreed proportions.

policyholder finds that he has inadvertently taken out more than one policy covering the same risk.

policyholder decides to insure proportions of his property with different insurers.

fundamental risk.

pure risk.

speculative risk.

capital risk.

unreasonable policy terms and conditions.

the financial failure of an insurance company.

the repudiation of liability by an insurer.

fraud perpetrated by an insurance broker.

arranges insurance protection wherever possible.

undertakes its own risk management research.

carries its own risk wherever possible.

tenders its insurance needs to the market.

Appointed representatives.

Lloyd ' s.

Independent brokers.

Direct insurers.

£1,000,000

£3,500,000

£6,000,000

£6,500,000

When the policy contract lakes effect.

When a claim is paid.

When a claim is submitted.

At renewal.