a. Private insurers provide social and economic benefits to society. Explain the following benefits of insurance to
Question:
a. Private insurers provide social and economic benefits to society. Explain the following benefits of insurance to society.
(1) Indemnification for loss
(2) Enhancement of credit
(3) Source of funds for capital investment and accumulation
b. Explain the major costs of insurance to society.
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a 1 Indemnification means that insureds are restored to their former financial position after a loss ...View the full answer
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Related Book For
Principles of Risk Management and Insurance
ISBN: 978-0132992916
12th edition
Authors: George E. Rejda, Michael McNamara
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