Exam (elaborations)
Chapter 1 - Fundamentals of Insurance| Questions with 100% correct answers | verified
- Course
- Institution
Spread of Risk - - "The losses of few are shared among the many" - A large pot into which all insureds place their premiums - This pot provides for payment for the losses of those who have claims Basis of Credit System - Consumer access to insurance frees up credit Eliminates Worry - Encourages...
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