Insurance principle

Insurance principle

The law of averages. The average outcome for many independent trials of an experiment will approach the expected value of the experiment.
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Older people were either uninsurable or lost their coverage when they got sick, and their children didn't want all the costs for their parents' care to fall on them by the luck of the draw, but preferred to share them under the insurance principle.
Then randomness is also one insurance principle which might be difficult for flood insurance and then there's the sustainability, the economic sustainability of flood insurance.
But it is not sufficient to require only "full implementation of the insurance principle," including "adequate representation of all interested parties" in some collective enterprise.
Moses: The social insurance principle sounds wonderful: "From each according to his abilities, to each according to his needs.
It's a basic insurance principle that the larger the pool, the easier it is to absorb the expense of the more costly members.
Moreover, it is a step which undermines the insurance principle targeting state help only on the very poorest and offering no help to people who have tried to help themselves.
Putting aside the obviously contentious and politically charged issue of funding, consider that regardless of whether a nation's care is funded through tax levies or from private sources, the tried and true insurance principle of spreading the risk is at play.
These schemes were established with the specific aim of counteracting socio-economic risks and the choice of the insurance principle reflected a pursuit occupational solidarity as the principal policy aim.
The insurance principle holds that the province must compensate anyone suffering loss resulting from the register's inaccuracy.
The insurance principle that characterizes such regimes makes it difficult both for those not yet in employment and the unemployed to access benefits.
MANAMA: UK's Chartered Insurance Institute has awarded the Gulf Insurance Institute (GII) with 30 credits for its Introduction Certificate in Insurance Principles and Practices (ICIP).
People who have already formed a Bermuda captive, or who are looking at captives as a solution to their risk management needs, have told me that while they found help from brokers, risk management consultants and a host of other professionals who are on the fringe of the industry, they only really found a true understanding of their needs and captive insurance principles through discussions with captive managers.
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