TRUE OR FALSE 1)Risk pooling insurance is created by an insurer that, as a profe
ID: 2723584 • Letter: T
Question
TRUE OR FALSE
1)Risk pooling insurance is created by an insurer that, as a professional risk-bearer, assumes the financial aspect of risks transferred to it by insureds. The insurer assumes risk by promising to pay whatever loss may occur as long as it fits the description given in the policy and is not larger than the amount of insurance sold.
2) Catastrophe Modeling is a highly specialized mathematic analysis that deals with the financial and risk aspects of insurance. Actuarial analysis takes past losses and projects them into the future to determine the reserves an insurer needs to keep and the rates to charge
3) Moral Hazard policy statements are the primary tools to communicate risk management objectives
Explanation / Answer
True. True. True.
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