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AINS 24 Chapter 1 Questions and Answers Rated A+
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Major roles of insurance Risk management to deal with loss exposures; transfer system of financial loss from insured to insurer; business sufficient to pay claims and provide profit; contract between insured and insurer What are risk management techniques? Loss prevention; loss reduction; risk transfer; loss avoidance Define Insurance Policy A contract that states the rights and duties of both the insured and the insurer regarding the transfer and costs of losses. Define Exposure Units Assets that are insured by an insurance company. What are the 2 insurance sectors? Property-casualty and Life-health
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AINS 24
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AINS 24
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ains 24 chapter 1 questions and answers rated a
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