Question

explain the characteristics of insurance.​

Answer 1

Answer:

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Explanation:

Based on the preceding definition, an insurance plan or arrangement typically includes the following characteristics: Pooling of losses. Payment of fortuitous losses. Risk transfer.

Answer 2

Answer:

Based on the preceding definition, an insurance plan or arrangement typically includes the following characteristics:

Pooling of losses.

Payment of fortuitous losses.

Risk transfer.

Indemnification.