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In an imaginary world where you are an insurance adjuster someone stops to ask you to define a loss frequency. You would respond with: 1.
In an imaginary world where you are an insurance adjuster someone stops to ask you to define a loss frequency. You would respond with:
1. | probable size of the losses that may occur during some period.
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2. | probable number of losses that may occur during some period.
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3. | probability that any particular piece of property may be totally destroyed.
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4. | probability that a liability judgment may exceed a firm's net worth
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