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- what is the role of the Insurance Core Principles as it relates to underwriting risks, in the effective management of insurance companies?what is one example of a risk management strategy used by insurance companies to mitigate underwriting risks?Is disaster insurance unfair to insurance companies ? Explain your answer and provide an example.
- How does the Insurance Commission assure the investing public on the safety of the Insurance products offered in the market?The _______________ problem is when customers who are most likely to have a claim against an insurance company are those quickest to apply for an insurance contract. Group of answer choices a. Capital adequacy b. Default risk c. Adverse selection d. Mismatched maturityWhich of the following is not an insurance management tool? Group of answer choices deductibles. screening of applicants. limits on insurance. restrictive covenants. signalling.
- Related to ethics and contracts, why do payday loans appear to be an ethical issue?If the chance that a risk will occur cannot be reasonably predicted or the possible financial loss to the business calculated, it will be unlikely that an insurance company will provide coverage. True or FalseWho are front-line underwriters? What are premium volume and loss experience with the insurer? What is monitoring of underwriting decisions?