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4. Describe the following insurance company operations. a. What is rate making. Explain the regulatory and business ratemaking objectives, a b. What is underwriting. Explain

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4. Describe the following insurance company operations. a. What is rate making. Explain the regulatory and business ratemaking objectives, a b. What is underwriting. Explain the basic principles and the steps in underwriting. a c. What is loss adjusting. Explain the objectives and the steps in claim settlement, a

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