Question 14 of 20:

Select the best answer for the question.

All insurance is based on a principle called

A. investment premiums.

B. cash value coverage.

C. premium earnings.

D. division of risk.

Question

22-07-2024
Business

Answered

Question 14 of 20:

Select the best answer for the question.

All insurance is based on a principle called

A. investment premiums.

B. cash value coverage.

C. premium earnings.

D. division of risk.

Answer :

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Final answer:

Insurance is based on the principle of dividing risk among a large group of policyholders, ensuring no one individual bears the full burden of a loss.

Explanation:

The principle that all insurance is based on is the division of risk. Insurance companies manage risk by spreading it among a large number of policyholders, so no single individual has to bear the entire burden of a loss. This principle allows for the pooling of resources to protect against unforeseen events.

Learn more about Insurance principles here:

https://brainly.com/question/42782607

Question 14 of 20:Select the best answer for the question.All insurance is based on a principle calledA. investment premiums.B. cash value coverage.C. premium earnings.D. division of risk.

Answer :

Final answer:

Explanation:

Learn more about Insurance principles here:

Other Questions

Question 14 of 20:

Select the best answer for the question.

All insurance is based on a principle called

A. investment premiums.

B. cash value coverage.

C. premium earnings.

D. division of risk.