Identify Dogs insurance as a offered risk. Assess the viability of this risk being offered based on
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Question:
Identify Dogs insurance as a offered risk. Assess the viability of this risk being offered based on the 6 requirements:
1- Large number of exposure units
2- Accidental and unintentional loss
3- Determinable and measurable loss
4- No catastrophic loss
5- Calculable chance of loss
6- Economically feasible premium
Expert Answer:
1Law of Large Numbers a statistical axiom that states that the larger the number of exposure units independently exposed to loss the greater the proba... View the full answer
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