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Insurance & Risk Management (2)

Insurance & Risk Management (2)

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Published by pankajgupta

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Published by: pankajgupta on Dec 27, 2008
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11/16/2012

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Insurance & RiskManagement
 
 
Basic Queries
What will be the contribution of this paper in my carrier as finance professional?Why do we need to study Insurance?What are insurance services?
 
 
WHAT IS RISK?
 
Risk is defined as uncertainty concerning theoccurrence of a loss.
Objective Risk
: the relative variation of actualloss from expected loss. Objective risk declinesas the number of exposures increases. Morespecifically, objective risk varies inversely withthe square root of the number of cases under observation.
Subjective Risk
:uncertainty based on aperson’s mental condition or state of mind.

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