Homework Answers
Solution :- (2)
It is important for Insurance companies to have a large pool of people paying premiums because As much as increase in the number of policy holders , the insurance company will predict more accurate about losses and also become more confident. There is also a general saying in insurance companies that the larger the risk pool, the more predictable and stable the premiums can be. Also benefits of insurance companies depend on the premiums . Also one thing is that the loss of insurance companies are uncertain so it creates a pool of funds to handle loss.
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