UESTIIEJN FDUR Fill in 1 Basic Characteristics of Insurance are 4 characteristics , the},r are ------ = ------------- , ----------- 3 The loss must be fortuitous means, 4- Adverse selection means ------------ For example 5 Hedging means ------------------- I5- Marine insurance covers --------------- ,but inland insurance covers ------------ 7"- Casualty insurance refers to ______________ 3- Aviation insurance provides protection for ---------------- 9 Social insurance Programs are nanced entirely or in large part by 19 Major social insurance programs include = = , , l 1- Benets ofinsurance can be summarized in -------- , ----------- = -------------- , ---------- Question Five dgged Case Building in flood zones are difficult to insure by private insurers because the ideal requirements of an insurable risk are difficult to meet a Identify.r the ideal requirements of an insurable risk b 1ii'lihich of the requirements of an insurable risk are met by the ood peril Solution