insurance principle

Definition

A principle of risk management, based on assumptions of expected outcomes, in which the law of averages is applied in theory, or in practice to approximate those outcomes. Used by insurance companies to quantify risk factors and determine the cost of indemnity.



http://www.businessdictionary.com/definition/insurance-principle.html

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z