In General, Aggregate Losses Must Be Predictable in Advance for an Insurance

question 50

True/False

In general, aggregate losses must be predictable in advance for an insurance system to work properly.

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Definitions:

Intermediaries

Agents or businesses that act as a middleman in the distribution channel, moving products from the manufacturer to the consumer.

Horizontal Conflict

Disagreements or disputes between businesses at the same level of the distribution channel, such as between two retailers.

Intermediaries

Parties or people who play an intermediary role in the supply chain, helping to broker deals between manufacturers and buyers.

Marketing Channel

The path or route through which goods or services travel from the producer or provider to the final user or consumer.