SOLUTIONS VERIFIED LATEST UPDATE
An example of risk sharing would be?
A. Adding more security to a high-risk building
B. Choosing not to invest in the stock market
C. Doctors pooling their money to cover malpractice exposures
D. Buying an insurance policy to cover potential liabilities
Doctors pooling their money to cover malpractice exposures
Insurance represents the process of risk?
A. selection
B. avoidance
C. transference
D. assumption
transference
How do insurers predict the increase of individual risks?
A. Law of large numbers
B. U.S. Census
C. Average mortality incidents
D. Experience of morbidity
Law of large numbers