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Latest revision as of 11:54, 20 March 2023

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Many insurance executives are against patenting insurance products as a end result of it creates a new danger for them. Insurance is just a risk transfer mechanism wherein the monetary burden which can arise due to some fortuitous event is transferred to an even bigger entity called an Insurance Company by means of paying premiums. This solely reduces the financial burden and never the precise possibilities of occurring of an occasion. Insurance is a danger for both the insurance firm and the insured. The insurance firm understands the chance involved and www.rapa1459.co.kr will perform a risk evaluation when writing the coverage.
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