Let us a close look at Fundamental and Particular risks:
Fundamental risks are those that affect large populations while particular risks affect only specific persons. A train crash is fundamental risk while a theft is a particular risk.Life Insurance business deals with particular risks, but fundamental risks affect the life insurance company's experience, as many persons will be affected at the same time, when there is an earthquake, flood or riot.
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Thursday, November 26, 2009
Fundamental and Particular risks
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Thursday, November 26, 2009 catastrophic risks, classification risk, fundamental and particular risks, general insurance, insurance, life insurance, perils InsuranceMinds 11:37 PM
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