Is disaster insurance unfair to insurance companies ? Explain your answer and provide an example.

Q: Explain contributory negligence.

A: Auditing is a gathering of information and evaluation of evidence as to report on the degree of…

Q: Is self-insurance the same as going without insurance? Why or why not?

A: The advantages of being self-insured area unit value savings and management of the insurance…

Q: Describe a private insurance. what is it? Discuss the primary strengths and advantages, and…

A: Private Insurance means an insurance plan which is not operated by the government. It comes under…

Q: Insurers in California are required to offer ________ coverage to consumers due to the substantial…

A: An insurance is a scheme which is availed by consumers to get protected against a particular risk.…

Q: What is meant by the expression, “The policyholder gets the benefit of the doubt,” in connection…

A: All insurance policies favour the insured person if there is any doubt etc benefits of doubt is…

Q: Describe how an unrelated tenant in common or joint tenant should protect him- or herself from…

A: Please find the answer to the above question below:

Q: In what circumstance would a property insurance claim be rejected?

A: An insurance claim is a written request for coverage or compensation from an insurance company for a…

Q: Which is not a management practice for reducing the problems of adverse selection and moral hazard…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Why insurance companies important for individuals?

A: A for-profit, non-profit, or government-owned firm that provides the promise to pay for particular…

Q: Why insurance companies important for individuals and businesses?

A:

Q: Which of the following is not an insurance management tool? Group of answer choices deductibles.…

A: Insurance management: Insurance Management is the administration of all insurance requirements, both…

Q: Which of the followings is NOT correct about life insurance? a. To meet an insured person's debts…

A: The question is multiple choice question. Required  Which of tje following is not correct about life…

Q: IDENTIFICATION: What area of insurance companies is faced with the risk that estimates of loss…

A: Insurance risk management is referred as an assessment as well as quantification of the financial…

Q: What is the relationship between risk management and insurance buying and why do some argue that…

A: The question is based on the concept of risk management and the use of insurance as a tool of risk…

Q: Which of the following statements is correct about perils in property insurance policies?

A: Insurance is a contract by which the insured party is protected against losses by the Insurer in…

Q: Why would an insured inflate claims and who are the ones to suffer for it?

A: Insurance can be defined as the contract that is signed by an insurer indemnifies another person…

Q: How insurance companies works?

A: Insurance companies are the type of organizations that were established in order to cover the…

Q: What type of information is entered for insurance and why is insurance important?

A: Insurance is a way to protect oneself from financial loss. It is a type of risk management that is…

Q: what is one example of a risk management strategy used by insurance companies to mitigate…

A: An underwriter's potential loss is known as underwriting risk. Underwriting risk in insurance can…

Q: Insuring clause in an Accident & Health policy states which of the following information? A. The…

A: There are different clause in the insurance policy that what is covered and what is not covered and…

Q: Which principles ensures that an insured does not profit by insuring with multiple insurers?

A: The Principles of Contribution ensures that an insurance that an insured does not profit by insuring…

Q: Define Hazard Insurance?

A: Hazard insurance: Hazard insurance is designed to  coverages. Generally it covered against…

Q: Name a peril that is often excluded from an home or auto insurance policy.  Why is the peril…

A: Peril means an event causing fire or theft or damage to assets like home, auto mobiles etc Peril…

Q: tell me why the use of reinsurance contributes to the solvency of the ceding insurer.

A: By ceding a portion of their risk, ceding companies reduce their overall risk exposure and…

Q: What are the differences between an insurance agent and an insurance broker? Discuss.

A: Insurance brokers are individuals that sells, buy or negotiate variety of financial products that…

Q: why is it important for insurance companies to manage underwriting risk?

A: in contract of insurance there is a guarantee by insurance that it will pay the damage or loss .…

Q: 1. Insurable interest refers to O A. the item to be insured should be legal and not against public…

A: Insurable Interest forms subject matter of all insurance policies and is defined as follows

Q: What actions can a person take to reduce the cost of automobile insurance?

A: Automobile insurance is the instrument that is used to cover the losses or harm to vehicles that…

Q: Define this following terms: Environmental Risks, liability risks, insurable risks, self insurance

A: Self-insurance: The act of setting aside or creating funds to meet unexpected incomes and overcome…

Q: Why is the Worker’s Compensation Insurance is an expensive type of insurance?

A: Worker’s Compensation Insurance- It is a kind of insurance where employees are provided with medical…

Q: Which of the followings is NOT correct about life insurance? O a. To meet an insured person's debts…

A: Insurance means where insurance company agree to pay the specified amount to insured person in case…

Q: Which of the following items is required by the Life Insurance and Annuity Replacement Rule? A. A…

A: The answer is stated below:

Q: How does title insurance work? Why is it not absolute (fool-proof

A: Title insurance is that insurance product that is related to the world of real estate. It is an…

Q: How does the imperfect information in insurance markets cause an  increase in health care costs?…

A: Imperfect information  Imperfect information is referred to as the lack of information to either of…

Classification Of Risk

Risk means when there could be a possibility that the returns expected from a particular project or investment may or may not match the investor's expectations. In other words, the uncertainty of an income arising from a source that would either be lower than expected or result in losses in risk exposure of the project. The higher the risk involved, the higher is the return expected by the investor as the investor is exposed to a high level of risk. There are various methods by which different types of risk can be assessed and avoided or mitigated.