Discussion
Describe four types of life and health insurance. In your answer, describe the personal risk that is insured by each type of insurance.
In the property and liability insurance industry, describe the difference between personal lines insurance and commercial lines insurance. Give two examples of each.
List the four building blocks of an insurance premium. Why are investment earnings included in the calculations?
What are the definitions for the loss ratio and the expense ratio? Describe what each ratio measures.
In what ways do insurance systems benefit society?
What are the major costs of insurance systems?
