An Implied Condition of Pooling Risks with Insurance Is That

question 3

True/False

An implied condition of pooling risks with insurance is that the event being insured against is under the control of the individuals.

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Definitions:

Tax

A mandatory contribution to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions.

Police Power

The capacity of a state to regulate behavior and enforce order within its territory for the betterment of the health, safety, morals, and general welfare of its inhabitants.

U.S. Constitution

The foundational document that outlines the framework of the federal government of the United States, including its institutions and the rights of citizens.

States

Politically organized bodies of government with sovereign power within a defined territory.