List the major types of pure risk that are associated with economic insecurity.
Answer to relevant QuestionsDescribe the major social and economic burdens of risk on society.Buildings in flood zones are difficult to insure by private insurers because the ideal requirements of an insurable risk are difficult to meet.a. Identify the ideal requirements of an insurable risk.b. Which of the ...Pure risks ideally should have certain characteristics to be insurable by private insurers. List the six characteristics of an ideally insurable risk.Avoidance is a risk-control technique that can be used effectively in a risk management program.a. What is the major advantage of using the technique of avoidance in a risk management program?b. Is it possible or practical ...a. Explain the advantages of using insurance in a risk management program.b. Explain the disadvantages of using insurance in a risk management program.
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