What is insurance explain the characteristics of insurance?
Insurance coverage can be defined as a contract in the form of a financial protection policy. This policy covers the monetary risks of an individual due to unpredictable contingencies. The insured is the policyholder whereas the insurer is the insurance-providing company/the insurance carrier/the underwriter.
Which of the following is not a basic characteristics of insurance?
The functions of insurance are risk sharing, assisting in capital formation, economic progress, etc. Lending of funds is not a function of insurance.
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Insurance Fundamentals - usada www usada org/wp-content/uploads/R014 pdf major participant in the worldwide insurance industry Lloyd's of London is not an The characteristics of an insurance transaction are
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