Insurable losses must be fortuitous; that is, they must:
A) have high severity of loss.
B) be reasonably predictable.
C) not occur twice to the same person.
D) be a matter of chance.
E) have low frequency of loss.
Correct Answer:
Verified
Q23: All states administer unemployment compensation insurance programs.
Q24: Individuals who transfer risk to a third-party
Q25: Exposure units are susceptible to dependent loss
Q26: These individuals are charged with determining appropriate
Q27: Insurers pool similar risk exposures together to
Q29: The insurer cannot replace sentimental value or
Q30: The pooling of risk leads to an
Q31: The phenomenon of selecting an insurer that
Q32: The bulk of the premium required by
Q33: A risk transference group is a special
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents