O-LevelCommerceInsuranceOct/Nov 2025Paper 2 Q515 Marks
Companies take out insurance for many purposes. Fig. 5.1 shows the pooling of risk for fire insurance. Some of the insurance claims were for warehouse fires. 1000 companies require fire insurance, paying an average premium of $300 each. Insurance pool 10 companies make fire claims. Average value of each claim is $25000. Fig. 5.1 Use Fig. 5.1 to help you answer the following questions.
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