Difference between revisions of "Auto Home Life And Business Insurance"

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Revision as of 22:58, 28 June 2022

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The danger introduced by any given individual is assumed collectively by the community who all bear the cost of rebuilding misplaced property and supporting individuals whose wants are suddenly higher after a loss of some kind. In supportive communities where others may be trusted to observe neighborhood leaders, this tacit form of insurance can work. In this manner the neighborhood may even out the intense differences in insurability that exist amongst its members. Some further justification can be supplied by invoking the moral hazard of express insurance contracts.

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