[Answer] Which law is the foundation of the statistical prediction of loss upon which rates for insurance are calculated?

Answer: law of large numbers

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Which law is the foundation of the statistical prediction of loss upon which rates for insurance are calculated? what law is the foundation of the statistical prediction of loss upon which rates for insurance are calculated ? Law of Large Numbers What two elements are necessary for a life insurance contract to have a legal purpose. What law is the foundation of the statistical prediction of loss upon which rates for insurance are calculated ? Law of large numbers What type of insurer is voluntarily formed organization that provides insurance benefits for members of an affiliated lodge or religious organization with a … What law is the foundation of the statistical prediction of loss upon which rates for insurance are calculated ? Law of large numbers In the agent insurer relationship who is considered the principal? Which law is the foundation of the statistical prediction of loss upon which rates for insurance are calculated ? Peril. A tornado that destroys property would be an example of which of the following? ... arising from the insured's indifference to loss because of the existence of insurance . What is the law of foundation of the statistical prediction of loss upon which rates for insurance are calculated ? Law of large numbers . ... When risks with higher probability of loss are seeking insurance more often than other risks this is known as what? Adverse selection . Which law is the foundation of the statistical prediction of loss upon which rates for insuranc...

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