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explain how does insurance industry works? 1. Policyholders pay premiums to insurance firms. 2.Premiums are used by insurance firms to pay for claims filed by
explain how does insurance industry works?
1. Policyholders pay premiums to insurance firms.
2.Premiums are used by insurance firms to pay for claims filed by policyholders.
3. Premiums are used by insurance firms to cover administrative and marketing costs.
4.Insurance firms utilize premiums to cover their costs.
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