Household Insurance. Insurance Protection against a loss you hope will not happen. Eg. car accident. Assurance Protection against a loss you know will happen. Eg. death. Distinguish between. Two reasons for adequate insurance. You must cover all possible risks.
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Protection against a loss you hope will not happen.
Eg. car accident.
Protection against a loss you know will happen.
Eg. death.Distinguish between
Ins. co. expenses
Ins. co. profit
Things that can be insured.
Houshold insurance; fire theft, damage.
Personal accident for a farmer.
Things that cannot be insured against.
Damage to car used in crash testing.
Personal accident for a bungee jumper.Distinguish between
Eg: FBD, Quinn Direct……..
low risk job