Identifying Risks Is the First Task to Be Completed Before

question 53

True/False

Identifying risks is the first task to be completed before a comprehensive insurance program can be developed for a business.

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Definitions:

Deregulating

The reduction or elimination of government power in a particular industry, usually to create more competition and increase efficiency.

Centralizing

The process of concentrating control and decision-making authority in a central location or group within an organization or system.

Economic Freedom Index

An annual index that measures a country's economic freedom based on factors such as trade freedom, business freedom, investment freedom, and property rights.

Investment Freedom

The ease with which individuals and corporations can allocate their resources without facing excessive regulatory hurdles.