One reason insurable losses must be definite is to allow measurability of the losses.

Name: One reason insurable losses must be definite is to allow measurability of the losses.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Insurable losses must be definite and measurable in order to determine the amount of coverage needed and to calculate the premium to be paid. If losses were uncertain, it would be difficult to offer insurance coverage and set fair premiums.

One Reason Insurable Losses Must Be Definite Is to Allow