Risk control is intended to prevent or reduce losses. When practicing sound risk control, an organization

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Risk control is intended to prevent or reduce losses. When practicing sound risk control, an organization

A. Will not be required to expend economic resources to insure those loss exposures.
B. Is likely to use insurance to treat those loss exposures.
C. Will often be able to eliminate losses from those loss exposures.
D. Is likely to see the same economic benefit as compared to insurance.

Answer: B. When practicing sound risk control, an organization is likely to use insurance to treat large loss exposures.

Insurance

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

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A domestic insurer issuing variable contracts must establish one or more
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In an insurance contract, the applicant's "consideration" is the
Agents may be found guilty of defamation if they make a false statement that is intended to?
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The voluntary relinquishment of a legal right is called
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