Explain each of the following characteristics of a typical insurance plan. a. Pooling of losses b. Payment

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Explain each of the following characteristics of a typical insurance plan.
a. Pooling of losses
b. Payment of fortuitous losses
c. Risk transfer
d. Indemnification

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Principles of Risk Management and Insurance

ISBN: 978-0132992916

12th edition

Authors: George E. Rejda, Michael McNamara

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Question Posted: Jan 30, 2015 07:37 AM

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Explain each of the following characteristics of a typical insurance plan. a. Pooling of losses b. Payment

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Insurance plans have four distinct characteristics a Pooling Loss...View the full answer

Principles of Risk Management and Insurance

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