Exam (elaborations)
C16 The Business of Insurance 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. -Insurance fulfils a societal need -Provides consumers with financial security for particular types of accidental losses. ...
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