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 & Solution

Correct Answer: Option C

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.

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Which of the following statements are correct i In order to...

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.

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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.