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chouri chouri
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7 years ago
ABC Insurance Company plans to sell homeowners insurance in five Western states. ABC expects that 8 homeowners out of every 100, on average, will report claims each year. The variation between the rate of loss that ABC expects to occur and the rate of loss that actually does occur is called
A) objective probability.
B) subjective probability.
C) objective risk.
D) subjective risk.
Textbook 
Principles of Risk Management and Insurance

Principles of Risk Management and Insurance


Edition: 12th
Authors:
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Toni_AnnetteToni_Annette
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