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1)Risk managers are concerned with policy limits and deductible size contained in insurance contracts because: Select one: a
1)Risk managers are concerned with policy limits and deductible size contained in insurance contracts because:
Select one:
a. an increased deductible amount increases the policy's premium
b. the policy limit and the deductible are the only determinants of whether the policy will pay the claim
c. they determine how much of the exposure the insured retains and transfers
d. premiums set by policy limit and deductible are not tax deductible whereas uninsured losses are deductible
please don't give me a wrong answer.
Expert Solution
C) They determine how much of the exposure the insured retains and transfers.
Explanation: Risk managers are concerned with policy limits and deductible size contained in insurance contracts because this gives an idea about the amount of risk transfered through insurance policy on the insurance company. On the basis of which the insurer takes risk on the premium paid by the insured.
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