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Insurance companies selling Credit Default Swaps (CDS) may have large number of exposure units, but still why the risk involved in the business may not

Insurance companies selling Credit Default Swaps (CDS) may have large number of exposure units, but still why the risk involved in the business may not be an ideally insurable risk? (a) Insuring against other company's default would be against public policy. (b) It's under the control of insured. (c) The probability of loss is too high (d) Of the likelihood of simultaneous destruction. (e) All of the above

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