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question 29

Essay

(
A)How is insurance similar to an individual's diversified portfolio?


Definitions:

Contingency Planning

The process of preparing strategies to address unexpected events or emergencies that could negatively impact operations.

Changing Circumstances

Refers to the varying conditions or situations that can affect an individual's or organization's decisions and actions.

Implemented

The act of carrying out a plan, policy, or method into action to achieve a given goal.

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