Concern about the replacement value is considered in which principle of a sound insurance program?
A) Identify business risks that can be insured.
B) Secure insurance coverage for all major potential losses.
C) Consider the feasibility and affordability of insuring smaller potential losses.
D) Review and evaluate.

Question

Quizplus · Accepted Answer

The principle of securing insurance coverage for all major potential losses includes considering the replacement value of assets to ensure adequate coverage.

Concern About the Replacement Value Is Considered in Which Principle