Reference no: EM133004700

What are the implications of the observation that "the cause of a loss is less important than its effect?"
In what way does the cost of risk influence the decision to transfer or retain a particular risk?
List the types of insurers as classified by legal form of ownership, and briefly describe the distinguishing characteristics of each type.
What are the general methods of operation of Lloyd's of London, and why does it receive such wide publicity?
Identify the various costs common to all insurers and explain the extent to which these costs may differ from one insurer to another.
How do you account for the fact that two insurers may charge significantly different premiums for identical coverage?
"When an insurer is successful in its efforts to select insureds from the better than average classes, the gain in its competitive position is magnified by the impact of this success on its competitors." Explain what is meant by this statement.