Individuals who transfer risk to a third-party are known as:
A) insurers.
B) insureds.
C) reinsurers.
D) reinsureds.
E) beneficiaries.
Correct Answer:
Verified
Q19: The insurer does not guarantee that the
Q20: Pooling the exposures together permits less accurate
Q21: The insurer assumes the insureds risk by
Q22: These programs began as arrangements between insurers
Q23: All states administer unemployment compensation insurance programs.
Q25: Exposure units are susceptible to dependent loss
Q26: These individuals are charged with determining appropriate
Q27: Insurers pool similar risk exposures together to
Q28: Insurable losses must be fortuitous; that is,
Q29: The insurer cannot replace sentimental value or
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