Question

every insurer carrying on general insurance business should create ____ to meet future liability.

1. Statutory reserve
2. Contingency Reserve
3. Catastrophe reserve
4. all of the above​

Answer 1

Explanation:

all of the above

hope it helps you

Answer 2

Answer:

Option 4. All of the above is the correct answer.

Step by step answer:

• Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients' risks to make payments more affordable for the insured.
• Insurance policies are used to hedge against the risk of financial losses, both big and small, that may result from damage to the insured or her property, or from liability for damage or injury caused to a third party.