The First _____ Policy Came into Effect During the Late

question 24

Short Answer

The first _____ policy came into effect during the late 1800s and came to be described as the generally accepted manner of underwriting for property loss due to fire.

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Definitions:

Governmental Agencies

Governmental agencies are official organizations, often established by the government, responsible for administering specific functions and regulations at various levels, such as federal, state, or local.

Ideal Standard

Benchmarks for optimal performance under perfect operating conditions, used in cost accounting to set budget targets.

Rigorous

Characterized by a strict attention to detail; thorough and exacting.

Standard

A set of guidelines or principles established as a basis for comparison or measurement in quality assessment, production, and compliance.