Changes

In setting the amount of premium to charge the insured, the insurer will assess the size of the risk taking into account the nature of the insured, and then incorporate an allowance for the insured’s overheads, and a contribution to the insurance company’s profits.  Insurers employ [[actuary|actuaries]] to do much of the work in determining the premium for each insured.

In setting the amount of premium to charge the insured, the insurer will assess the size of the risk taking into account the nature of the insured, and then incorporate an allowance for the insured’s overheads, and a contribution to the insurance company’s profits.  Insurers employ [[actuary|actuaries]] to do much of the work in determining the premium for each insured.

[[category:economics]]

[[category:economics]]

[[Category:Insurance]]

[[Category:Insurance]]