Outline the components of the impact of risk on a business(cost of risk)

b)Explain the concept of determinable and measurable loss


c)Describe the elements of enforceable insurance contracts

d)Your roommate and you have automobile insurance policies with identical coverage written by the same insurance company. You both drive the same year and model care, but his premium is shs.2200 less than yours. He tells you that he was able to obtain the insurance cheaper by having the automobile registered in his father's name and having his father purchase the insurance. Advise him

e)Briefly explain Four types of risks