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What Is the Main Difference Between a Conceptual Model and a Physical

question 102

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What is the main difference between a conceptual model and a physical model?


Definitions:

Insurance Policy

A contract between an insurer and a policyholder that specifies the terms under which the insurer agrees to compensate the policyholder for loss caused by specific events.

Declaratory Judgment Action

A legal procedure wherein the court determines the rights of parties without ordering any specific action or awarding damages.

Subrogation Action

A legal action where an insurer seeks to recover the amount of an insurance claim paid to the insured from the party responsible for causing the loss.

Indemnity Action

A legal action seeking compensation for damages or loss from another party as recompense for harm suffered.

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