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(i) Enables the company meet its operating costs.
(ii) Enables the company determine the premiums to be charged.
(iii) Enables the insurance company re-insure itself.
(iv) Enables the insurance company create a common pool of funds from regular premiums.
(v) Enables insurance company to compensate those affected.
(vi) Enables insurance spread risk over larger number of people.
(vii) Surplus funds are invested to generate profits.
maurice.mutuku answered the question on August 15, 2017 at 05:48
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