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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It should be stressed that the GSIS has long been implementing a premium-based policy, the essence of any insurance principle, which aims to sustain the actuarial solvency and financial
While in theory the benefit formula could be changed to eliminate the benefit increase, some may be reluctant to do so because they feel this would violate the insurance principle underlying the program.
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.
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.
It's a basic insurance principle that the larger the pool, the easier it is to absorb the expense of the more costly members.
Moses: The social insurance principle sounds wonderful: "From each according to his abilities, to each according to his needs.
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.
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.
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.
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