Question
Insurance Companies have to generate enough revenues to cover their costs and make a normal profit, otherwise, they will go out of business.This implies that
Insurance Companies have to generate enough revenues to cover their costs and make a normal profit, otherwise, they will go out of business.This implies that the premiums charged for insurance policies must be greater than the expected payouts to policy holders. Why would a person ever buy insurance knowing that the price is greater than the expected payout?
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Global Capitalism Its Fall And Rise In The Twentieth Century
Authors: Jeffry Frieden
1st Edition
039332981X, 9780393329810
