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Which one of the following best describes the concept of pooling? Insureds share the cost of each other's losses. The financial consequences of unanticipated losses
Which one of the following best describes the concept of pooling?
Insureds share the cost of each other's losses.
The financial consequences of unanticipated losses are transferred to an insurer.
Insurance benefits provided to society as a whole.
Risk management is concerned with positive and negative risks.
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Operations Management
Authors: R. Dan Reid, Nada R. Sanders
4th edition
9780470556702, 470325046, 470556706, 978-0470325049
