Exam (elaborations)
C16 The Business of Insurance- chapter 1- 6 Exam | Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+
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List the two fundamental principles of insurance. : 1. The premiums of the many are used to pay the losses of the few. 2. The premiums shall be commensurate with the risk (must charge an appropriate premium for the risk.) (there must be an appropriate balance of premiums and claims paid) Why ...
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