Which of the following statements are correct?
i. In order to be insurable, a risk must be capable of statistical estimation.
ii. In insurance, only economic or financial losses can be compensated.

A. Statement i is correct

B. Statement ii is correct

C. Both statements i and ii are correct

D. None of the three

Answer: Option C

Solution(By Examveda Team)

Both the statements are correct: In order to be insurable, a risk must be capable of statistical estimation and In insurance, only economic or financial losses can be compensated.