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What Are the Disadvantages Faced by the Insurance Companies in Bearing

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Essay

What are the disadvantages faced by the insurance companies in bearing risk?


Definitions:

Ultramares Rule

A doctrine limiting the liability of auditors to third parties for negligence, except in cases of fraud or misrepresentation.

Near Privity

A relationship closely resembling that of direct contractual connection, often recognized in legal contexts despite the absence of an actual contract.

Foreseen Users

Refers to individuals or groups that a product, service, or piece of information is expected to reach or impact.

Fraud

Purposefully misleading someone for one's own benefit or to harm another person.

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