BUISENESS MANAGEMENT
INSURANCE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
A mathematical principal underlying that the greater the number of companies insured, the more likely that the insurer can predict the percentage and amount of losses over a given period of time
|
|
|
A concept wherein individuals save enough money to pay for health or medical expenses themselves rather than buying health or dental insurance and paying monthly premiums to an insurance company
|
|
|
an insurance claim payout of the cash value of an insured item minus depreciation, if the item is damaged, lost, or stolen
|
|
|
insurance that protects workers who’ve been injured at work
|
Detailed explanation-1: -Self-insurance involves setting aside your own money to pay for a possible loss instead of purchasing insurance and expecting an insurance company to reimburse you.
Detailed explanation-2: -Self-insurance is the practice of insuring yourself or your property by saving your income or other funds rather than by buying an insurance policy.
Detailed explanation-3: -What Is Self-Insurance? Being self-insured means that you would have enough money to pay for anything an insurance company would usually foot the bill for. When it comes to life insurance, self-insurance means having enough in investments to bring in a healthy income for your loved ones after you’ve died.
Detailed explanation-4: -Self-insure is a risk management technique in which a company or individual sets aside a pool of money to be used to remedy an unexpected loss.