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Difference between an actuary and an underwriter

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Reference no: EM132770524

Alberto recently acquired a new helicopter. He plans to use it mainly for personal purposes, but will also use it for charter trips in order to raise money to help him make payments on the loan and for maintenance costs.

1. Advise Alberto on the risks he faces in owning the helicopter, whether the risks are speculative or pure, and how best he might handle each of those risks.

2. To save some money, Alberto decides to insure the helicopter for less than what it is worth. How is an insurance company likely to deal with this position in the event of a claim?

3. Explain the difference between an actuary and an underwriter.

Reference no: EM132770524

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