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please answer!! answer blnak provided!!! Explain the following characteristics of insurance: Pooling of losses Payment only for random lesses Risk transfer Inderthification Adverse selection Feefor

please answer!! answer blnak provided!!! image text in transcribed

Explain the following characteristics of insurance: Pooling of losses Payment only for random lesses Risk transfer Inderthification Adverse selection Feefor Service Copitation Mocal Hazard

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